Three Bridge Wealth Advisors LLC Purchases 18,886 Shares of Bunge Global SA $BG

Three Bridge Wealth Advisors LLC purchased a new position in shares of Bunge Global SA (NYSE:BG) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,886 shares of the basic materials company’s stock, valued at approximately $1,981,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Maryland State Retirement & Pension System boosted its holdings in Bunge Global by 1,547.9% in the third quarter. Maryland State Retirement & Pension System now owns 115,074 shares of the basic materials company’s stock worth $12,088,000 after purchasing an additional 108,091 shares in the last quarter. Advisor Resource Council raised its holdings in Bunge Global by 36.6% during the third quarter. Advisor Resource Council now owns 5,344 shares of the basic materials company’s stock valued at $574,000 after buying an additional 1,432 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Bunge Global by 1,438.1% during the third quarter. Ritholtz Wealth Management now owns 56,679 shares of the basic materials company’s stock valued at $5,953,000 after buying an additional 52,994 shares in the last quarter. Silver Grove Financial Group Inc. raised its holdings in Bunge Global by 1,487.3% during the third quarter. Silver Grove Financial Group Inc. now owns 2,381 shares of the basic materials company’s stock valued at $250,000 after buying an additional 2,231 shares in the last quarter. Finally, AMG National Trust Bank lifted its position in shares of Bunge Global by 227.5% in the third quarter. AMG National Trust Bank now owns 31,327 shares of the basic materials company’s stock worth $3,308,000 after buying an additional 21,761 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 1.0%

Shares of NYSE:BG opened at $100.39 on Thursday. The company has a market cap of $19.29 billion, a P/E ratio of 16.87 and a beta of 0.70. The stock’s 50-day moving average is $108.08 and its 200-day moving average is $116.52. Bunge Global SA has a 52-week low of $88.24 and a 52-week high of $134.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50.

Bunge Global (NYSE:BG) last posted its quarterly earnings data 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. 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 analyst estimates of $23.28 billion. During the same period in the previous year, the company posted $2.27 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Bunge Global SA will post 9.63 earnings per share for the current year.

Analysts Set New Price Targets

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