Canal Capital Management LLC Acquires 4,208 Shares of Bunge Global SA (NYSE:BG)

Canal Capital Management LLC lifted its stake in Bunge Global SA (NYSE:BG) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,663 shares of the basic materials company’s stock after purchasing an additional 4,208 shares during the period. Canal Capital Management LLC’s holdings in Bunge Global were worth $6,539,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BG. Wellington Management Group LLP grew its stake in Bunge Global by 15.0% in the fourth quarter. Wellington Management Group LLP now owns 25,739 shares of the basic materials company’s stock worth $2,598,000 after purchasing an additional 3,366 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Bunge Global during the 1st quarter worth $221,000. Janiczek Wealth Management LLC increased its stake in shares of Bunge Global by 550.0% during the first quarter. Janiczek Wealth Management LLC now owns 1,092 shares of the basic materials company’s stock valued at $112,000 after buying an additional 924 shares during the period. SteelPeak Wealth LLC bought a new stake in shares of Bunge Global in the first quarter valued at about $2,137,000. Finally, LVW Advisors LLC purchased a new stake in Bunge Global in the first quarter worth about $209,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Up 0.8 %

NYSE:BG opened at $90.93 on Friday. The company’s 50-day simple moving average is $96.85 and its 200-day simple moving average is $102.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $114.92. The stock has a market capitalization of $12.88 billion, a P/E ratio of 7.26 and a beta of 0.64.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter last year, the business earned $3.72 earnings per share. Bunge Global’s revenue was down 12.0% on a year-over-year basis. On average, equities analysts anticipate that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.00.

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.