Northwestern Mutual Wealth Management Co. Has $2.20 Million Stake in Bunge Global SA (NYSE:BG)

Northwestern Mutual Wealth Management Co. grew its position in Bunge Global SA (NYSE:BG) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,580 shares of the basic materials company’s stock after buying an additional 911 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bunge Global were worth $2,197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Bunge Global by 26.5% in the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after acquiring an additional 883,127 shares during the last quarter. Millennium Management LLC increased its position in Bunge Global by 12,617.1% during the 2nd quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after purchasing an additional 878,653 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bunge Global by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock valued at $1,913,490,000 after purchasing an additional 578,065 shares during the last quarter. LSV Asset Management lifted its stake in Bunge Global by 33.4% in the 1st quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock valued at $195,743,000 after purchasing an additional 478,559 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Bunge Global in the first quarter valued at approximately $26,817,000. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bunge Global Price Performance

BG stock opened at $98.15 on Friday. The company has a market capitalization of $13.90 billion, a P/E ratio of 7.87 and a beta of 0.64. The company has a fifty day moving average price of $98.89 and a 200-day moving average price of $103.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $114.92.

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

About Bunge Global

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.