Bunge Global SA $BG Shares Purchased by Amundi

Amundi boosted its stake in Bunge Global SA (NYSE:BG) by 8.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,477,573 shares of the basic materials company’s stock after purchasing an additional 120,626 shares during the quarter. Amundi owned about 1.10% of Bunge Global worth $117,293,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AE Wealth Management LLC increased its stake in Bunge Global by 1,596.3% during the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock worth $13,162,000 after buying an additional 154,279 shares during the period. Inspire Advisors LLC bought a new stake in shares of Bunge Global in the 2nd quarter valued at approximately $3,279,000. LSV Asset Management raised its position in shares of Bunge Global by 2.1% during the 2nd quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company’s stock valued at $171,467,000 after acquiring an additional 43,343 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Bunge Global by 96.6% in the 2nd quarter. Acadian Asset Management LLC now owns 152,308 shares of the basic materials company’s stock valued at $12,226,000 after buying an additional 74,836 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Bunge Global in the second quarter valued at approximately $382,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the transaction, the vice president owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Bunge Global Trading Down 0.8%

Shares of BG stock opened at $93.67 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $18.11 billion, a P/E ratio of 10.08, a P/E/G ratio of 2.44 and a beta of 0.79. The firm has a 50-day moving average price of $92.29 and a 200 day moving average price of $84.36. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $22.46 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. Bunge Global’s revenue was up 71.6% compared to the same quarter last year. Research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stephens boosted their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $105.00 to $120.00 in a research report on Thursday, November 6th. Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a research report on Monday, October 27th. Finally, CICC Research boosted their price objective on shares of Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.