Mediolanum International Funds Ltd Sells 60,356 Shares of Bunge Global SA $BG

Mediolanum International Funds Ltd cut its holdings in Bunge Global SA (NYSE:BG) by 70.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,998 shares of the basic materials company’s stock after selling 60,356 shares during the period. Mediolanum International Funds Ltd’s holdings in Bunge Global were worth $2,061,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BG. United Services Automobile Association bought a new position in Bunge Global in the 1st quarter worth approximately $223,000. Woodline Partners LP boosted its position in shares of Bunge Global by 34.5% in the first quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company’s stock valued at $862,000 after acquiring an additional 2,893 shares during the period. Focus Partners Wealth grew its stake in shares of Bunge Global by 16.7% in the first quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 580 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Bunge Global by 50.4% during the second quarter. Janney Montgomery Scott LLC now owns 6,802 shares of the basic materials company’s stock worth $546,000 after acquiring an additional 2,278 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Bunge Global by 5.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 36,148 shares of the basic materials company’s stock worth $2,902,000 after acquiring an additional 1,779 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of research reports. Zacks Research downgraded shares of Bunge Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 27th. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bunge Global in a research note on Wednesday, December 24th. CICC Research boosted their price target on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Finally, Morgan Stanley raised Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $95.00 to $120.00 in a report on Tuesday, December 16th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and a consensus target price of $110.67.

Bunge Global Stock Up 2.6%

Shares of NYSE BG opened at $116.91 on Wednesday. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $119.57. 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 business has a fifty day moving average of $98.89 and a two-hundred day moving average of $90.54. The stock has a market cap of $22.60 billion, a PE ratio of 12.58, a PEG ratio of 1.73 and a beta of 0.78.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.04. The business had revenue of $22.16 billion for 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 firm’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, equities research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Company 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.