The Manufacturers Life Insurance Company Acquires 2,782 Shares of Bunge Global SA (NYSE:BG)

The Manufacturers Life Insurance Company raised its holdings in shares of Bunge Global SA (NYSE:BG) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,355 shares of the basic materials company’s stock after purchasing an additional 2,782 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of Bunge Global worth $18,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BG. Pacer Advisors Inc. increased its stake in Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after purchasing an additional 883,127 shares in the last quarter. Millennium Management LLC increased its stake 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 valued at $94,557,000 after purchasing an additional 878,653 shares in the last quarter. Vanguard Group Inc. increased its stake in Bunge Global by 3.1% during 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 in the last quarter. LSV Asset Management increased its stake in 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 valued at $195,743,000 after purchasing an additional 478,559 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Bunge Global in the 1st quarter worth $26,817,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

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

Bunge Global (NYSE:BG) last issued its quarterly earnings results 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). The company had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. Bunge Global’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period last year, the firm posted $3.72 earnings per share. On average, equities research analysts forecast that Bunge Global SA will post 9.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and reduced their target price 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.