Creative Planning Has $737,000 Position in Bunge Global SA (NYSE:BG)

Creative Planning increased its position in Bunge Global SA (NYSE:BG) by 19.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,906 shares of the basic materials company’s stock after buying an additional 1,108 shares during the period. Creative Planning’s holdings in Bunge Global were worth $737,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in Bunge Global by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 170,355 shares of the basic materials company’s stock worth $18,189,000 after purchasing an additional 2,782 shares during the period. Millennium Management LLC boosted its position in Bunge Global by 12,617.1% during the second 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 during the period. APG Asset Management N.V. bought a new stake in Bunge Global during the second quarter worth approximately $1,116,000. AQR Capital Management LLC boosted its position in Bunge Global by 23.4% during the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after purchasing an additional 184,245 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in Bunge Global during the second quarter worth approximately $107,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Up 0.9 %

Shares of BG stock opened at $96.97 on Friday. The stock has a market cap of $13.73 billion, a P/E ratio of 7.81 and a beta of 0.64. Bunge Global SA has a one year low of $86.10 and a one year high of $114.92. The stock has a fifty day moving average price of $97.60 and a 200 day moving average price of $103.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97.

Bunge Global (NYSE:BG) last issued 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). The firm had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the business earned $3.72 earnings per share. Analysts predict that Bunge Global SA will post 9.3 earnings per share for the current year.

Analysts Set New Price Targets

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

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.