Bunge Global SA $BG Stake Cut by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lessened its holdings in Bunge Global SA (NYSE:BG) by 56.4% in the third quarter, HoldingsChannel.com reports. The firm owned 516,467 shares of the basic materials company’s stock after selling 667,572 shares during the period. AustralianSuper Pty Ltd’s holdings in Bunge Global were worth $41,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Bunge Global Stock Down 0.7%

BG stock opened at $115.37 on Thursday. The firm’s 50-day moving average is $97.24 and its two-hundred day moving average is $89.28. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $118.50. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same quarter last year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was up 71.6% on a year-over-year basis. On average, analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction 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 sale, the vice president owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group increased their price target on Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. Morgan Stanley raised Bunge Global from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $120.00 in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. Stephens increased their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bunge Global from $109.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently 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.