Fifth Third Bancorp Grows Position in Bunge Global SA $BG

Fifth Third Bancorp raised its holdings in shares of Bunge Global SA (NYSE:BG) by 13.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,990 shares of the basic materials company’s stock after purchasing an additional 580 shares during the quarter. Fifth Third Bancorp’s holdings in Bunge Global were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BG. AustralianSuper Pty Ltd bought a new stake in shares of Bunge Global during the first quarter valued at about $92,552,000. Dimensional Fund Advisors LP increased its position in shares of Bunge Global by 34.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock valued at $255,756,000 after buying an additional 859,733 shares during the period. Nuveen LLC bought a new stake in shares of Bunge Global during the first quarter valued at about $40,963,000. AQR Capital Management LLC increased its position in shares of Bunge Global by 80.5% in the first quarter. AQR Capital Management LLC now owns 995,507 shares of the basic materials company’s stock worth $76,077,000 after purchasing an additional 443,893 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new position in shares of Bunge Global in the first quarter worth approximately $19,920,000. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BG. JPMorgan Chase & Co. began coverage on shares of Bunge Global in a research report on Wednesday, August 20th. They issued an “overweight” rating and a $95.00 price objective on the stock. Morgan Stanley increased their price target on shares of Bunge Global from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bunge Global presently has an average rating of “Moderate Buy” and an average target price of $85.33.

Insiders Place Their Bets

In other Bunge Global news, Director Christopher Mahoney bought 5,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $81.73 per share, with a total value of $408,650.00. Following the transaction, the director owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Bunge Global Price Performance

BG opened at $81.25 on Wednesday. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $99.39. The stock has a 50-day moving average price of $81.52 and a 200-day moving average price of $79.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The firm has a market cap of $16.25 billion, a PE ratio of 8.12, a P/E/G ratio of 6.15 and a beta of 0.67.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The business had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. Bunge Global’s revenue was down 3.6% on a year-over-year basis. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal 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.