Managed Asset Portfolios LLC Purchases 2,858 Shares of Bunge Global SA $BG

Managed Asset Portfolios LLC increased its position in shares of Bunge Global SA (NYSE:BG) by 1.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 295,818 shares of the basic materials company’s stock after purchasing an additional 2,858 shares during the period. Bunge Global accounts for 3.1% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 14th largest holding. Managed Asset Portfolios LLC’s holdings in Bunge Global were worth $23,748,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BG. Cromwell Holdings LLC grew its position in shares of Bunge Global by 4,175.0% in the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 334 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Bunge Global in the 2nd quarter valued at about $29,000. Manchester Capital Management LLC lifted its stake in Bunge Global by 588.5% in the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 359 shares during the last quarter. SVB Wealth LLC bought a new position in Bunge Global during the first quarter worth about $38,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Bunge Global by 197.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock worth $39,000 after buying an additional 341 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $105.00 to $120.00 in a research report on Thursday, November 6th. BMO Capital Markets lifted their price objective on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Zacks Research raised shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Stephens raised their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Bunge Global Stock Performance

Shares of NYSE BG opened at $96.14 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The firm has a market cap of $18.59 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 8.28 and a beta of 0.76. The stock’s fifty day moving average price is $88.51 and its two-hundred day moving average price is $82.93. Bunge Global SA has a one year low of $67.40 and a one year high of $99.55.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 earnings per share. On average, equities analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.