Bunge Global SA (NYSE:BG) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its holdings in Bunge Global SA (NYSE:BG) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,710 shares of the basic materials company’s stock after purchasing an additional 2,259 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bunge Global were worth $4,031,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BG. nVerses Capital LLC increased its holdings in shares of Bunge Global by 400.0% in the third quarter. nVerses Capital LLC now owns 10,000 shares of the basic materials company’s stock valued at $966,000 after purchasing an additional 8,000 shares during the period. Vontobel Holding Ltd. grew its position in Bunge Global by 30.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 15,329 shares of the basic materials company’s stock valued at $1,481,000 after buying an additional 3,548 shares during the last quarter. Swedbank AB increased its stake in Bunge Global by 11.9% in the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock valued at $13,871,000 after buying an additional 15,241 shares during the period. Polianta Ltd raised its position in Bunge Global by 31.3% during the 3rd quarter. Polianta Ltd now owns 13,000 shares of the basic materials company’s stock worth $1,256,000 after buying an additional 3,100 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Bunge Global in the 3rd quarter worth $1,167,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

Shares of BG opened at $89.55 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $114.92. The company has a 50-day simple moving average of $97.41 and a 200-day simple moving average of $102.91. The company has a market capitalization of $12.68 billion, a PE ratio of 7.21 and a beta of 0.64.

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

Wall Street Analyst Weigh In

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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.