AGF Management Ltd. Invests $823,000 in Bunge Global SA $BG

AGF Management Ltd. purchased a new stake in Bunge Global SA (NYSE:BG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,246 shares of the basic materials company’s stock, valued at approximately $823,000.

Other institutional investors have also recently bought and sold shares of the company. AustralianSuper Pty Ltd acquired a new position in shares of Bunge Global in the first quarter worth about $92,552,000. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 859,733 shares during the period. Nuveen LLC purchased a new stake in shares of Bunge Global in the 1st quarter valued at approximately $40,963,000. AQR Capital Management LLC boosted its stake in Bunge Global by 80.5% in the 1st 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 period. Finally, Yaupon Capital Management LP acquired a new stake in Bunge Global during the 1st quarter valued at $19,920,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 1.4%

Shares of BG stock opened at $96.36 on Wednesday. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $99.55. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $87.23 and its two-hundred day moving average is $82.36. The company has a market cap of $18.63 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. Bunge Global’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 earnings per share. Equities analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BG shares. JPMorgan Chase & Co. increased their price objective on Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a research report on Monday, October 27th. CICC Research increased their target price on shares of Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Finally, Stephens lifted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Transactions at Bunge Global

In other news, Director Christopher Mahoney purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the acquisition, the director directly owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. The trade was a 231.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is owned by company insiders.

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.