Bunge Global SA (NYSE:BG) Stake Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Bunge Global SA (NYSE:BG) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,972 shares of the basic materials company’s stock after purchasing an additional 550 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bunge Global were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BG. Vanguard Group Inc. boosted its holdings in Bunge Global by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after buying an additional 578,065 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bunge Global by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,138,378 shares of the basic materials company’s stock valued at $215,879,000 after acquiring an additional 42,592 shares during the last quarter. LSV Asset Management boosted its stake in shares of Bunge Global by 33.4% during the 1st quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock worth $195,743,000 after acquiring an additional 478,559 shares in the last quarter. Norges Bank acquired a new position in shares of Bunge Global in the 4th quarter worth $128,092,000. Finally, Acadian Asset Management LLC raised its position in shares of Bunge Global by 4.0% during the first quarter. Acadian Asset Management LLC now owns 702,095 shares of the basic materials company’s stock worth $71,965,000 after purchasing an additional 27,235 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup cut 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $98.64 on Friday. The stock has a market cap of $13.97 billion, a PE ratio of 7.94 and a beta of 0.67. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $115.84. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $105.15 and a 200-day simple moving average of $101.88.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). The business had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The company’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.72 earnings per share. On average, sell-side analysts anticipate that Bunge Global SA will post 9.4 EPS for the current fiscal year.

Bunge Global 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.