AustralianSuper Pty Ltd Cuts Position in Bunge Global SA $BG

AustralianSuper Pty Ltd lowered its position in shares of Bunge Global SA (NYSE:BG) by 56.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 516,467 shares of the basic materials company’s stock after selling 667,572 shares during the quarter. AustralianSuper Pty Ltd owned about 0.26% of Bunge Global worth $41,963,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BG. CoreCap Advisors LLC grew its stake in Bunge Global by 2,000.0% during the third quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock worth $26,000 after buying an additional 300 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Bunge Global by 4,175.0% during the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 334 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Bunge Global during the 3rd quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new stake in Bunge Global during the 2nd quarter worth $29,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Bunge Global in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Buying and Selling

In related news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction dated 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 transaction, the vice president directly owned 104,537 shares in the company, 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 is accessible through this link. Company insiders own 0.80% of the company’s stock.

Bunge Global Stock Down 0.7%

BG stock opened at $115.37 on Thursday. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $97.24 and a 200-day simple moving average of $89.28. The company has a market capitalization of $22.31 billion, a P/E ratio of 12.42, a PEG ratio of 1.76 and a beta of 0.78. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $118.50.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (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 firm 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 company posted $2.29 earnings per share. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. On average, equities research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BG has been the topic of a number of recent research reports. Zacks Research upgraded Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. CICC Research raised their target price on Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. JPMorgan Chase & Co. upped their price target on Bunge Global from $109.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. BMO Capital Markets lifted their price objective on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Stephens boosted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $110.67.

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.