AMG National Trust Bank Increases Stock Position in Bunge Global SA $BG

AMG National Trust Bank grew its position in Bunge Global SA (NYSE:BG) by 360.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,644 shares of the basic materials company’s stock after purchasing an additional 20,080 shares during the period. AMG National Trust Bank’s holdings in Bunge Global were worth $2,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Investments Inc purchased a new stake in shares of Bunge Global in the second quarter valued at about $410,000. Retirement Systems of Alabama raised its holdings 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 purchasing an additional 157 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Bunge Global by 11.0% in the second quarter. Assetmark Inc. now owns 23,225 shares of the basic materials company’s stock valued at $1,865,000 after purchasing an additional 2,306 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Bunge Global by 10.7% in the second quarter. Keybank National Association OH now owns 17,913 shares of the basic materials company’s stock valued at $1,438,000 after purchasing an additional 1,737 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Bunge Global in the second quarter valued at about $395,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on BG. Morgan Stanley set a $95.00 target price on shares of Bunge Global in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. BMO Capital Markets increased their price target on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Bunge Global from $95.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Zacks Research upgraded shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $99.43.

Bunge Global Price Performance

Shares of NYSE:BG opened at $94.64 on Friday. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $18.93 billion, a PE ratio of 9.45, a P/E/G ratio of 8.28 and a beta of 0.66. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $99.55. The company has a 50-day moving average price of $85.80 and a two-hundred day moving average price of $81.54.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. The firm had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. Equities analysts forecast 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.