Bunge Global SA $BG Stock: Ethic Inc. Raises Stake

Ethic Inc. raised its position in Bunge Global SA (NYSE:BG) by 8,910.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,459 shares of the basic materials company’s stock after purchasing an additional 250,646 shares during the quarter. Ethic Inc.’s holdings in Bunge Global were worth $26,600,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clark Wealth Partners lifted its stake in Bunge Global by 3,657.1% in the third quarter. Clark Wealth Partners now owns 263 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in shares of Bunge Global during the third quarter valued at approximately $46,000. Ameritas Advisory Services LLC bought a new position in shares of Bunge Global during the second quarter valued at approximately $50,000. Hilltop National Bank bought a new position in shares of Bunge Global during the second quarter valued at approximately $63,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Bunge Global by 54.0% in the third quarter. Quest 10 Wealth Builders Inc. now owns 622 shares of the basic materials company’s stock worth $66,000 after buying an additional 218 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 0.6%

Shares of BG opened at $99.14 on Friday. Bunge Global SA has a 1-year low of $88.24 and a 1-year high of $134.87. The company has a 50-day moving average of $109.12 and a 200 day moving average of $116.71. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 16.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.50 and a quick ratio of 0.65.

Bunge Global (NYSE:BG) last issued its earnings results on Thursday, October 29th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.15. The business had revenue of $23.80 billion for the quarter, compared to the consensus estimate of $23.28 billion. Bunge Global had a net margin of 1.24% and a return on equity of 9.34%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.27 EPS. On average, research analysts expect that Bunge Global SA will post 9.63 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $150.00 price target on shares of Bunge Global in a research note on Thursday, August 13th. JPMorgan Chase & Co. dropped their price objective on Bunge Global from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Weiss Ratings raised Bunge Global from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. UBS Group increased their target price on Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, Zacks Research lowered Bunge Global from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.38.

Bunge Global Company Profile

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains.

The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services.

Founded in 1818, Bunge expanded from its European origins into a global business.