Glencore plc Takes Position in Bunge Global SA $BG

Glencore plc acquired a new position in Bunge Global SA (NYSE:BG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,806,103 shares of the basic materials company’s stock, valued at approximately $2,665,496,000. Bunge Global comprises 67.2% of Glencore plc’s portfolio, making the stock its biggest holding. Glencore plc owned 0.16% of Bunge Global at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BG. Norges Bank purchased a new stake in Bunge Global in the second quarter valued at approximately $149,380,000. Ilex Capital Partners UK LLP grew its stake in shares of Bunge Global by 383.7% in the second quarter. Ilex Capital Partners UK LLP now owns 891,673 shares of the basic materials company’s stock valued at $71,584,000 after buying an additional 707,336 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Bunge Global by 719.2% in the 3rd quarter. Voya Investment Management LLC now owns 303,928 shares of the basic materials company’s stock valued at $24,694,000 after buying an additional 266,827 shares during the period. Moore Capital Management LP purchased a new stake in shares of Bunge Global in the 2nd quarter valued at $12,463,000. Finally, AE Wealth Management LLC lifted its stake in Bunge Global by 1,596.3% during the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock worth $13,162,000 after acquiring an additional 154,279 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

BG has been the subject of several research reports. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Stephens raised their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. UBS Group lifted their price objective on shares of Bunge Global from $100.00 to $108.00 in a report on Wednesday, December 24th. BMO Capital Markets upped their target price on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley upgraded shares of 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 report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $110.67.

Bunge Global Stock Up 0.8%

BG stock opened at $113.55 on Friday. The company’s 50 day moving average price is $96.00 and its 200 day moving average price is $88.38. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.71 and a beta of 0.78. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. On average, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Insider Activity

In other news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the sale, the vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

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.