Barings LLC Buys 1,406 Shares of Bunge Global SA $BG

Barings LLC boosted its position in Bunge Global SA (NYSE:BG) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,409 shares of the basic materials company’s stock after purchasing an additional 1,406 shares during the quarter. Barings LLC’s holdings in Bunge Global were worth $3,726,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Bunge Global by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock worth $255,756,000 after buying an additional 859,733 shares during the last quarter. Nuveen LLC acquired a new stake in Bunge Global in the first quarter valued at approximately $40,963,000. AQR Capital Management LLC boosted its stake in 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 valued at $76,077,000 after acquiring an additional 443,893 shares in the last quarter. Yaupon Capital Management LP purchased a new position in Bunge Global in the first quarter worth $19,920,000. Finally, Gotham Asset Management LLC increased its position in shares of Bunge Global by 1,001.9% during the first quarter. Gotham Asset Management LLC now owns 208,234 shares of the basic materials company’s stock worth $15,913,000 after purchasing an additional 189,337 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BG shares. JPMorgan Chase & Co. raised their price objective on Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. CICC Research increased their price target on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Zacks Research upgraded shares of Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a research report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and a consensus price target of $102.88.

Bunge Global Stock Up 1.9%

Bunge Global stock opened at $94.55 on Friday. The business’s 50-day simple moving average is $89.20 and its two-hundred day simple moving average is $83.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07. The company has a market cap of $18.28 billion, a PE ratio of 9.45, a PEG ratio of 8.28 and a beta of 0.76. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $99.55.

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

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.