Bunge Global SA (NYSE:BG) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC increased its holdings in Bunge Global SA (NYSE:BG) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,915 shares of the basic materials company’s stock after acquiring an additional 4,110 shares during the quarter. SlateStone Wealth LLC’s holdings in Bunge Global were worth $1,913,000 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 the business. SteelPeak Wealth LLC acquired a new position in Bunge Global during the 1st quarter worth $2,137,000. Avantax Advisory Services Inc. acquired a new stake in Bunge Global during the first quarter valued at approximately $899,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Bunge Global by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,642 shares of the basic materials company’s stock worth $20,319,000 after buying an additional 10,891 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in shares of Bunge Global by 2,975.7% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock worth $8,249,000 after acquiring an additional 77,844 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Bunge Global by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock valued at $4,247,000 after acquiring an additional 6,281 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

NYSE BG traded up $1.99 on Monday, reaching $100.63. 1,211,415 shares of the stock traded hands, compared to its average volume of 1,509,586. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $115.84. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 8.08 and a beta of 0.67. The firm’s fifty day simple moving average is $105.06 and its 200 day simple moving average is $102.13. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.37.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the company posted $3.72 earnings per share. Bunge Global’s revenue was down 12.0% compared to the same quarter last year. As a group, research analysts predict that Bunge Global SA will post 9.4 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Bunge Global Profile

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.