Bunge Global SA $BG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Bunge Global SA (NYSE:BG) by 26.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,694 shares of the basic materials company’s stock after selling 11,327 shares during the quarter. Intech Investment Management LLC’s holdings in Bunge Global were worth $2,544,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in Bunge Global by 9.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock valued at $109,000 after buying an additional 121 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Bunge Global by 0.9% in the first quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company’s stock valued at $1,321,000 after acquiring an additional 149 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Bunge Global by 0.5% in the second quarter. Retirement Systems of Alabama now owns 28,841 shares of the basic materials company’s stock valued at $2,315,000 after acquiring an additional 157 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Bunge Global by 2.1% during the first quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company’s stock valued at $588,000 after acquiring an additional 158 shares during the last quarter. Finally, Greenleaf Trust increased its position in Bunge Global by 4.0% during the 2nd quarter. Greenleaf Trust now owns 4,221 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 164 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BG shares. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $105.00 to $120.00 in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. Finally, Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Five research 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, Bunge Global has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Bunge Global Stock Performance

Shares of BG stock opened at $93.04 on Thursday. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth 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. The company has a 50 day moving average price of $88.72 and a 200 day moving average price of $83.00. Bunge Global SA has a one year low of $67.40 and a one year high of $99.55.

Bunge Global (NYSE:BG) last posted its quarterly earnings results 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 firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. Sell-side analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

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.