Bunge Global SA $BG Stock Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in shares of Bunge Global SA (NYSE:BG) by 7,859.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 538,237 shares of the basic materials company’s stock after purchasing an additional 531,475 shares during the period. Commonwealth Equity Services LLC’s holdings in Bunge Global were worth $56,476,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BG. Bank of New York Mellon Corp purchased a new stake in Bunge Global in the second quarter valued at about $266,653,000. Robeco Institutional Asset Management B.V. grew its stake in shares of 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 acquiring an additional 1,790,978 shares during the last quarter. Amundi grew its stake in shares of Bunge Global by 9.4% during the first quarter. Amundi now owns 1,186,039 shares of the basic materials company’s stock worth $150,853,000 after acquiring an additional 101,942 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of 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 acquiring an additional 503,469 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Bunge Global by 3.5% during the first quarter. Swiss National Bank now owns 397,200 shares of the basic materials company’s stock valued at $50,524,000 after acquiring an additional 13,500 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Up 0.6%

Shares of Bunge Global stock opened at $99.14 on Friday. The stock has a market cap of $19.05 billion, a PE ratio of 16.66 and a beta of 0.70. The firm has a fifty day moving average price of $109.12 and a 200 day moving average price of $116.71. Bunge Global SA has a 1 year low of $88.24 and a 1 year high of $134.87. 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 posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.41 by $0.15. The company had revenue of $23.80 billion for the quarter, compared to analyst estimates of $23.28 billion. Bunge Global had a net margin of 1.24% and a return on equity of 9.34%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.27 earnings per share. Equities research analysts predict that Bunge Global SA will post 9.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Bunge Global 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.