Assetmark Inc. Grows Stake in Bunge Global SA $BG

Assetmark Inc. boosted its position in shares of Bunge Global SA (NYSE:BG) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,225 shares of the basic materials company’s stock after purchasing an additional 2,306 shares during the quarter. Assetmark Inc.’s holdings in Bunge Global were worth $1,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Bunge Global by 4,175.0% during the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 334 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Bunge Global during the 2nd quarter worth about $29,000. Manchester Capital Management LLC grew its holdings in Bunge Global by 588.5% during the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 359 shares in the last quarter. SVB Wealth LLC bought a new position in Bunge Global during the 1st quarter worth about $38,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Bunge Global by 197.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 341 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BG. Weiss Ratings reiterated a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Zacks Research upgraded shares of Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. BMO Capital Markets increased their target price on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Morgan Stanley set a $95.00 target price on shares of Bunge Global in a report on Monday, October 27th. Finally, Barclays increased their price target on shares of Bunge Global from $85.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.43.

Bunge Global Stock Down 0.1%

Shares of BG stock opened at $93.90 on Wednesday. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $99.55. The stock’s fifty day moving average price is $86.09 and its 200 day moving average price is $81.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 8.28 and a beta of 0.66.

Insider Activity at Bunge Global

In related news, Director Christopher Mahoney acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, with a total value of $408,650.00. Following the transaction, the director directly owned 7,164 shares of the company’s stock, valued at $585,513.72. This trade represents a 231.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is owned by insiders.

About Bunge Global

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.