Howard Capital Management Inc. Sells 4,661 Shares of Bunge Global SA $BG

Howard Capital Management Inc. trimmed its holdings in shares of Bunge Global SA (NYSE:BG) by 14.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,136 shares of the basic materials company’s stock after selling 4,661 shares during the quarter. Howard Capital Management Inc.’s holdings in Bunge Global were worth $2,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Park Avenue Securities LLC increased its holdings in shares of Bunge Global by 3.9% during the 3rd quarter. Park Avenue Securities LLC now owns 2,898 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 109 shares during the last quarter. Spire Wealth Management boosted its position in Bunge Global by 20.5% during the third quarter. Spire Wealth Management now owns 681 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 116 shares during the period. SBI Securities Co. Ltd. boosted its position in Bunge Global by 9.8% during the second quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 121 shares during the period. M&T Bank Corp grew its holdings in Bunge Global by 1.9% during the second quarter. M&T Bank Corp now owns 6,743 shares of the basic materials company’s stock valued at $541,000 after purchasing an additional 124 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Bunge Global by 0.5% in the second quarter. Retirement Systems of Alabama now owns 28,841 shares of the basic materials company’s stock valued at $2,315,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Activity at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BG. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $95.00 to $120.00 in a report on Tuesday, December 16th. UBS Group upped their price target on shares of Bunge Global from $100.00 to $108.00 in a report on Wednesday, December 24th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. BMO Capital Markets increased their target price on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.67.

Bunge Global Stock Down 1.2%

NYSE BG opened at $113.73 on Friday. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $119.57. The stock has a market cap of $21.99 billion, a PE ratio of 12.24, a PEG ratio of 1.75 and a beta of 0.78. The firm has a 50-day simple moving average of $98.07 and a 200 day simple moving average of $89.73. 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, beating the consensus estimate of $2.23 by $0.04. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The company’s quarterly revenue was up 71.6% compared to the same quarter last year. On average, research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Company 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.