Peregrine Capital Management LLC Sells 4,111 Shares of Bunge Global SA $BG

Peregrine Capital Management LLC cut its position in Bunge Global SA (NYSE:BG) by 30.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,518 shares of the basic materials company’s stock after selling 4,111 shares during the period. Peregrine Capital Management LLC’s holdings in Bunge Global were worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Bunge Global in the 2nd quarter valued at $7,417,000. Bessemer Group Inc. boosted its stake in Bunge Global by 86.0% in the 2nd quarter. Bessemer Group Inc. now owns 1,438 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 665 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Bunge Global by 4.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 101,822 shares of the basic materials company’s stock valued at $8,174,000 after acquiring an additional 4,525 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Bunge Global by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,699 shares of the basic materials company’s stock valued at $698,000 after acquiring an additional 3,358 shares during the period. Finally, Wealthfront Advisers LLC bought a new stake in shares of Bunge Global during the 2nd quarter valued at $263,000. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Price Performance

Bunge Global stock opened at $96.45 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $99.55. The stock has a market capitalization of $19.30 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 8.37 and a beta of 0.66. The stock has a fifty day moving average of $85.14 and a 200-day moving average of $81.18.

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 analysts’ consensus estimates of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The company had revenue of $12.77 billion during the quarter, compared to analysts’ expectations of $12.57 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. Bunge Global’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insider Activity at Bunge Global

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $81.73 per share, with a total value of $408,650.00. Following the acquisition, the director owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. This represents a 231.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

BG has been the subject of a number of recent analyst reports. Zacks Research upgraded Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. upped their target price on Bunge Global from $95.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Barclays upped their target price on Bunge Global from $85.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Finally, Stephens upped their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Bunge Global presently has an average rating of “Hold” and an average target price of $99.43.

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.