Freemont Management S.A. Purchases New Stake in Bunge Global SA (NYSE:BG)

Freemont Management S.A. purchased a new stake in Bunge Global SA (NYSE:BG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,400 shares of the basic materials company’s stock, valued at approximately $897,000.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Bunge Global by 11.9% during the fourth quarter. Victory Capital Management Inc. now owns 106,863 shares of the basic materials company’s stock worth $10,788,000 after buying an additional 11,355 shares during the last quarter. Natixis Advisors L.P. lifted its position in Bunge Global by 126.1% during the fourth quarter. Natixis Advisors L.P. now owns 27,400 shares of the basic materials company’s stock valued at $2,766,000 after purchasing an additional 15,283 shares during the period. Private Advisor Group LLC grew its position in Bunge Global by 97.8% during the fourth quarter. Private Advisor Group LLC now owns 5,033 shares of the basic materials company’s stock valued at $508,000 after buying an additional 2,489 shares during the period. Principal Securities Inc. bought a new stake in Bunge Global during the 4th quarter worth approximately $484,000. Finally, Versor Investments LP purchased a new stake in Bunge Global during the 4th quarter valued at approximately $566,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $114.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Trading Down 0.6 %

Shares of Bunge Global stock traded down $0.58 during trading hours on Monday, hitting $97.86. The company’s stock had a trading volume of 33,516 shares, compared to its average volume of 1,474,631. The business has a fifty day moving average of $104.04 and a 200 day moving average of $102.83. Bunge Global SA has a 1-year low of $86.10 and a 1-year high of $115.84. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $13.86 billion, a PE ratio of 7.93 and a beta of 0.65.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The firm had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the business earned $3.72 earnings per share. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities analysts forecast that Bunge Global SA will post 9.3 EPS for the current year.

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.