Bunge Global SA $BG Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of Bunge Global SA (NYSE:BG) by 1,438.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,679 shares of the basic materials company’s stock after buying an additional 52,994 shares during the period. Ritholtz Wealth Management’s holdings in Bunge Global were worth $5,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in Bunge Global during the 2nd quarter valued at about $266,653,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Bunge Global by 638.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company’s stock valued at $217,777,000 after purchasing an additional 1,790,978 shares during the period. Amundi increased its holdings in shares of Bunge Global by 9.4% in the 1st quarter. Amundi now owns 1,186,039 shares of the basic materials company’s stock valued at $150,853,000 after purchasing an additional 101,942 shares during the period. Retirement Systems of Alabama lifted its position in shares of Bunge Global by 3,204.4% in the third quarter. Retirement Systems of Alabama now owns 942,823 shares of the basic materials company’s stock worth $98,970,000 after purchasing an additional 914,291 shares in the last quarter. Finally, Keybank National Association OH lifted its position in shares of Bunge Global by 2,644.2% in the third quarter. Keybank National Association OH now owns 566,174 shares of the basic materials company’s stock worth $59,441,000 after purchasing an additional 545,542 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bunge Global Stock Performance

Shares of NYSE BG opened at $99.96 on Friday. The business’s 50-day moving average price is $107.61 and its two-hundred day moving average price is $116.45. 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 SA has a one year low of $88.24 and a one year high of $134.87. The company has a market capitalization of $19.21 billion, a P/E ratio of 16.80 and a beta of 0.70.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share 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 company had revenue of $23.80 billion during the quarter, compared to the consensus estimate of $23.28 billion. During the same period last year, the business earned $2.27 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Bunge Global SA will post 9.63 earnings per share for the current fiscal year.

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.