Rhumbline Advisers Has $24.07 Million Holdings in Bunge Global SA $BG

Rhumbline Advisers lifted its stake in shares of Bunge Global SA (NYSE:BG) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 299,785 shares of the basic materials company’s stock after acquiring an additional 21,399 shares during the quarter. Rhumbline Advisers owned about 0.22% of Bunge Global worth $24,067,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BG. Private Advisor Group LLC acquired a new stake in Bunge Global in the 1st quarter worth approximately $229,000. Assetmark Inc. lifted its stake in shares of Bunge Global by 4.0% in the first quarter. Assetmark Inc. now owns 20,919 shares of the basic materials company’s stock worth $1,599,000 after buying an additional 799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bunge Global by 3.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,202 shares of the basic materials company’s stock worth $3,760,000 after buying an additional 1,500 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Bunge Global during the 1st quarter worth $1,272,000. Finally, XTX Topco Ltd bought a new position in Bunge Global in the 1st quarter worth $343,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Activity

In other 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 transaction of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Bunge Global Price Performance

Shares of BG stock opened at $96.62 on Thursday. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $99.55. The company has a market capitalization of $18.68 billion, a P/E ratio of 9.65, a P/E/G ratio of 8.28 and a beta of 0.76. The stock has a 50 day moving average of $90.04 and a two-hundred day moving average of $83.62. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. The business 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 quarterly revenue was up 71.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, equities analysts expect that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BG shares. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley set a $95.00 price objective on Bunge Global in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. BMO Capital Markets lifted their price target on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, CICC Research increased their price objective on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.88.

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.