Groupama Asset Managment Sells 9,254 Shares of Bunge Global SA $BG

Groupama Asset Managment cut its holdings in shares of Bunge Global SA (NYSE:BG) by 70.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,804 shares of the basic materials company’s stock after selling 9,254 shares during the quarter. Groupama Asset Managment’s holdings in Bunge Global were worth $306,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its holdings in shares of Bunge Global by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 128,465 shares of the basic materials company’s stock valued at $10,313,000 after purchasing an additional 690 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Bunge Global by 14.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 72,311 shares of the basic materials company’s stock valued at $5,806,000 after buying an additional 9,052 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Bunge Global by 2.5% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,047 shares of the basic materials company’s stock valued at $967,000 after acquiring an additional 294 shares during the period. Advisors Asset Management Inc. lifted its position in Bunge Global by 6.4% during the second quarter. Advisors Asset Management Inc. now owns 12,166 shares of the basic materials company’s stock worth $977,000 after acquiring an additional 730 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in Bunge Global by 7.1% during the second quarter. Horizon Kinetics Asset Management LLC now owns 351,309 shares of the basic materials company’s stock worth $28,203,000 after acquiring an additional 23,138 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Performance

NYSE:BG opened at $95.33 on Friday. The stock has a fifty day moving average price of $90.70 and a 200-day moving average price of $83.82. The company has a market cap of $18.43 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 8.28 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $99.55.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. CICC Research increased their target price on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $105.00 to $120.00 in a research report on Thursday, November 6th. BMO Capital Markets lifted their target price on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Stephens boosted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and a consensus price target of $102.88.

Insider Buying and Selling

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Bunge Global Profile

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.