D.A. Davidson & CO. Raises Stock Position in Bunge Global SA $BG

D.A. Davidson & CO. raised its holdings in Bunge Global SA (NYSE:BG) by 252.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,131 shares of the basic materials company’s stock after purchasing an additional 9,405 shares during the quarter. D.A. Davidson & CO.’s holdings in Bunge Global were worth $1,067,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. boosted its stake in shares of Bunge Global by 9.8% in the second quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock worth $109,000 after buying an additional 121 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Bunge Global by 1.9% during the 2nd quarter. M&T Bank Corp now owns 6,743 shares of the basic materials company’s stock valued at $541,000 after purchasing an additional 124 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Bunge Global by 0.5% during the second quarter. Retirement Systems of Alabama now owns 28,841 shares of the basic materials company’s stock worth $2,315,000 after buying an additional 157 shares in the last quarter. Greenleaf Trust grew its position in Bunge Global by 4.0% during the second quarter. Greenleaf Trust now owns 4,221 shares of the basic materials company’s stock valued at $339,000 after buying an additional 164 shares during the period. Finally, Rakuten Securities Inc. increased its holdings in Bunge Global by 57.7% in the second quarter. Rakuten Securities Inc. now owns 481 shares of the basic materials company’s stock valued at $39,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the sale, the vice president 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Bunge Global Stock Up 2.6%

NYSE BG opened at $100.01 on Monday. The business has a fifty day moving average price of $93.43 and a 200 day moving average price of $86.49. 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 company has a market cap of $19.34 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.52 and a beta of 0.78. Bunge Global SA has a one year low of $67.40 and a one year high of $100.12.

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

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.