Keybank National Association OH Acquires 545,542 Shares of Bunge Global SA $BG

Keybank National Association OH increased its holdings in shares of Bunge Global SA (NYSE:BG) by 2,644.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 566,174 shares of the basic materials company’s stock after acquiring an additional 545,542 shares during the period. Keybank National Association OH’s holdings in Bunge Global were worth $59,441,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Bunge Global in the 2nd quarter valued at $266,653,000. Robeco Institutional Asset Management B.V. raised its holdings in Bunge Global by 638.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company’s stock worth $217,777,000 after buying an additional 1,790,978 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Bunge Global by 3,204.4% during the third quarter. Retirement Systems of Alabama now owns 942,823 shares of the basic materials company’s stock worth $98,970,000 after buying an additional 914,291 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Bunge Global by 7,859.7% during the third quarter. Commonwealth Equity Services LLC now owns 538,237 shares of the basic materials company’s stock worth $56,476,000 after buying an additional 531,475 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Bunge Global by 3,023.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 520,120 shares of the basic materials company’s stock worth $54,599,000 after buying an additional 503,469 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bunge Global Trading Down 1.7%

Shares of Bunge Global stock opened at $99.47 on Wednesday. The company has a market capitalization of $19.11 billion, a P/E ratio of 16.72 and a beta of 0.70. The stock has a fifty day simple moving average of $108.49 and a 200 day simple moving average of $116.59. Bunge Global SA has a 12-month low of $88.24 and a 12-month high of $134.87. The company has a current ratio of 1.50, a quick ratio of 0.65 and a debt-to-equity ratio of 0.50.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Thursday, October 29th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.15. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The business had revenue of $23.80 billion for the quarter, compared to analysts’ expectations of $23.28 billion. During the same period last year, the business earned $2.27 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Bunge Global SA will post 9.63 earnings per share for the current fiscal year.

About Bunge Global

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.