Russell Investments Group Ltd. Acquires 9,052 Shares of Bunge Global SA $BG

Russell Investments Group Ltd. increased its holdings in shares of Bunge Global SA (NYSE:BG) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,311 shares of the basic materials company’s stock after acquiring an additional 9,052 shares during the period. Russell Investments Group Ltd. owned about 0.05% of Bunge Global worth $5,806,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its holdings in Bunge Global by 2.5% during the second quarter. J.W. Cole Advisors Inc. now owns 12,047 shares of the basic materials company’s stock valued at $967,000 after purchasing an additional 294 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Bunge Global by 6.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 12,166 shares of the basic materials company’s stock worth $977,000 after buying an additional 730 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Bunge Global by 7.1% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 351,309 shares of the basic materials company’s stock worth $28,203,000 after buying an additional 23,138 shares during the period. Prudential Financial Inc. boosted its stake in Bunge Global by 11.8% in the 2nd quarter. Prudential Financial Inc. now owns 22,960 shares of the basic materials company’s stock valued at $1,843,000 after buying an additional 2,421 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Bunge Global by 5.8% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,338 shares of the basic materials company’s stock valued at $268,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on BG shares. Citigroup reiterated a “buy” rating on shares of Bunge Global in a research note on Tuesday. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Bank of America upped their price objective on shares of Bunge Global from $95.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Bunge Global Stock Down 1.0%

Shares of NYSE BG opened at $94.36 on Friday. The firm’s 50-day simple moving average is $92.05 and its 200 day simple moving average is $84.20. The company has a market cap of $18.24 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 2.48 and a beta of 0.79. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. During the same quarter last year, the company posted $2.29 EPS. The company’s quarterly revenue was up 71.6% compared to the same quarter last year. On average, research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the transaction, the vice president owned 104,537 shares in the company, valued at $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Bunge Global Company 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.