Assenagon Asset Management S.A. Sells 35,695 Shares of Bunge Global SA $BG

Assenagon Asset Management S.A. decreased its position in Bunge Global SA (NYSE:BG) by 73.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,739 shares of the basic materials company’s stock after selling 35,695 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Bunge Global were worth $1,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BG. Sicart Associates LLC grew its holdings in Bunge Global by 1.3% in the 3rd quarter. Sicart Associates LLC now owns 77,660 shares of the basic materials company’s stock valued at $6,310,000 after buying an additional 1,030 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of Bunge Global in the third quarter valued at about $138,000. Corient Private Wealth LLC increased its position in Bunge Global by 36.8% during the second quarter. Corient Private Wealth LLC now owns 24,055 shares of the basic materials company’s stock worth $1,931,000 after acquiring an additional 6,474 shares during the period. Osaic Holdings Inc. raised its stake in Bunge Global by 5.0% in the 2nd quarter. Osaic Holdings Inc. now owns 12,723 shares of the basic materials company’s stock worth $1,018,000 after purchasing an additional 603 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in Bunge Global by 37.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,619 shares of the basic materials company’s stock valued at $853,000 after purchasing an additional 2,915 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

Bunge Global Trading Down 0.3%

NYSE:BG opened at $88.27 on Thursday. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $99.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The firm’s fifty day moving average is $94.40 and its 200-day moving average is $85.59. The firm has a market cap of $17.07 billion, a P/E ratio of 9.50, a P/E/G ratio of 2.30 and a beta of 0.79.

Bunge Global (NYSE:BG) last issued its earnings results 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 the consensus estimate of $22.46 billion. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The firm’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 posted $2.29 earnings per share. Equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on BG shares. Morgan Stanley raised Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $95.00 to $120.00 in a report on Tuesday, December 16th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Bank of America raised their target price on shares of Bunge Global from $95.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. BMO Capital Markets raised their price objective on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Stephens upped their target price on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Bunge Global presently has an average rating of “Buy” and an average target price of $109.00.

Bunge Global Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.