Geode Capital Management LLC Grows Position in Bunge Global SA $BG

Geode Capital Management LLC increased its stake in shares of Bunge Global SA (NYSE:BG) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,535,869 shares of the basic materials company’s stock after acquiring an additional 80,082 shares during the quarter. Geode Capital Management LLC’s holdings in Bunge Global were worth $282,683,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in shares of Bunge Global by 6.8% during the 1st quarter. Cerity Partners LLC now owns 24,381 shares of the basic materials company’s stock valued at $1,863,000 after purchasing an additional 1,546 shares during the last quarter. CWM LLC lifted its position in shares of Bunge Global by 385.9% in the first quarter. CWM LLC now owns 9,300 shares of the basic materials company’s stock worth $711,000 after buying an additional 7,386 shares in the last quarter. Signaturefd LLC boosted its stake in Bunge Global by 79.6% during the first quarter. Signaturefd LLC now owns 1,363 shares of the basic materials company’s stock valued at $104,000 after buying an additional 604 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Bunge Global by 24.9% during the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company’s stock valued at $76,000 after buying an additional 199 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Bunge Global by 6.3% during the 1st quarter. Jennison Associates LLC now owns 82,297 shares of the basic materials company’s stock valued at $6,289,000 after buying an additional 4,864 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Down 1.0%

Shares of NYSE BG opened at $95.89 on Monday. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $99.55. The firm has a 50-day simple moving average of $88.08 and a two-hundred day simple moving average of $82.70. The company has a market cap of $18.54 billion, a P/E ratio of 9.58, a PEG ratio of 8.28 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

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

Wall Street Analyst Weigh In

BG has been the topic of several recent research reports. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. CICC Research increased their price objective on shares of Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. BMO Capital Markets boosted their target price on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Morgan Stanley set a $95.00 price target on shares of Bunge Global in a report on Monday, October 27th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Bunge Global 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.