Bunge Global SA (NYSE:BG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in shares of Bunge Global SA (NYSE:BG) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 34,306 shares of the basic materials company’s stock after selling 906 shares during the period. Mackenzie Financial Corp’s holdings in Bunge Global were worth $3,663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SteelPeak Wealth LLC acquired a new position in shares of Bunge Global during the first quarter worth $2,137,000. Avantax Advisory Services Inc. acquired a new position in Bunge Global in the 1st quarter worth $899,000. Chevy Chase Trust Holdings LLC boosted its position in Bunge Global by 2,975.7% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock valued at $8,249,000 after buying an additional 77,844 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Bunge Global by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock valued at $4,247,000 after acquiring an additional 6,281 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Bunge Global by 22,962.5% in the 1st quarter. AdvisorNet Financial Inc now owns 7,380 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 7,348 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Bunge Global currently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Stock Performance

BG stock opened at $97.68 on Wednesday. The firm has a market cap of $13.83 billion, a P/E ratio of 7.86 and a beta of 0.65. The stock’s 50 day simple moving average is $99.52 and its 200 day simple moving average is $103.31. The company has a current ratio of 2.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the prior year, the company earned $3.72 EPS. Bunge Global’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, equities research analysts predict that Bunge Global SA will post 9.3 EPS for the current year.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.