Kornitzer Capital Management Inc. KS Decreases Stock Holdings in Bunge Global SA $BG

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Bunge Global SA (NYSE:BG) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,100 shares of the basic materials company’s stock after selling 190 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Bunge Global were worth $5,708,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cromwell Holdings LLC raised its stake in Bunge Global by 4,175.0% during the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 334 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Bunge Global during the second quarter valued at $29,000. Manchester Capital Management LLC raised its stake in Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 359 shares in the last quarter. SVB Wealth LLC purchased a new stake in Bunge Global during the first quarter valued at $38,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Bunge Global by 197.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Bunge Global from $85.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday. Stephens increased their target price on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley increased their target price on shares of Bunge Global from $74.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Bunge Global from $95.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, BMO Capital Markets increased their target price on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.71.

Insider Buying and Selling

In related news, Director Christopher Mahoney purchased 5,000 shares of Bunge Global stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $81.73 per share, with a total value of $408,650.00. Following the purchase, the director directly owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. This represents a 231.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

Bunge Global Trading Up 1.2%

BG stock opened at $97.81 on Friday. The company has a market capitalization of $19.57 billion, a PE ratio of 9.77, a P/E/G ratio of 8.49 and a beta of 0.66. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $99.40. The firm’s 50-day moving average is $84.49 and its 200 day moving average is $80.82. 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 posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.19 by $0.12. The company had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 EPS. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

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.