Bunge Global SA $BG Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its position in shares of Bunge Global SA (NYSE:BG) by 25.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 27,563 shares of the basic materials company’s stock after buying an additional 5,555 shares during the period. Investment Management Corp of Ontario’s holdings in Bunge Global were worth $2,213,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Cromwell Holdings LLC grew its position in shares of Bunge Global by 4,175.0% in 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 during the period. Ameritas Advisory Services LLC purchased a new stake in Bunge Global during the second quarter valued at about $29,000. SVB Wealth LLC purchased a new position in shares of Bunge Global in the 1st quarter worth about $38,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Bunge Global by 197.1% in the 1st 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. Finally, Brooklyn Investment Group grew its holdings in shares of Bunge Global by 44.8% during the 1st quarter. Brooklyn Investment Group now owns 828 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 256 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Trading Down 0.1%

Shares of BG opened at $91.40 on Thursday. Bunge Global SA has a one year low of $67.40 and a one year high of $99.55. The stock has a 50-day moving average price of $92.86 and a 200 day moving average price of $84.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The company has a market capitalization of $17.67 billion, a P/E ratio of 9.84, a P/E/G ratio of 2.38 and a beta of 0.79.

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

Insider Buying and Selling

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. This trade represents a 19.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on BG. Bank of America raised their price target on shares of Bunge Global from $95.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Morgan Stanley set a $95.00 price target on shares of Bunge Global in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. Finally, Stephens increased their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.