Waterfront Wealth Inc. Buys 601 Shares of Bunge Global SA $BG

Waterfront Wealth Inc. lifted its stake in shares of Bunge Global SA (NYSE:BG) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,718 shares of the basic materials company’s stock after purchasing an additional 601 shares during the quarter. Waterfront Wealth Inc.’s holdings in Bunge Global were worth $1,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Callan Family Office LLC bought a new stake in shares of Bunge Global during the 2nd quarter valued at $705,000. Centennial Wealth Advisory LLC bought a new stake in shares of Bunge Global during the 2nd quarter valued at $449,000. Inspire Investing LLC raised its stake in shares of Bunge Global by 79.0% during the 2nd quarter. Inspire Investing LLC now owns 7,355 shares of the basic materials company’s stock valued at $590,000 after purchasing an additional 3,246 shares during the period. Nordea Investment Management AB raised its stake in shares of Bunge Global by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 15,657 shares of the basic materials company’s stock valued at $1,272,000 after purchasing an additional 342 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Bunge Global during the 2nd quarter valued at $29,000. 86.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Christopher Mahoney acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the acquisition, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.80% of the company’s stock.

Bunge Global Price Performance

BG opened at $96.45 on Wednesday. The stock has a 50-day moving average price of $85.14 and a 200-day moving average price of $81.18. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $19.30 billion, a P/E ratio of 9.64, a PEG ratio of 8.37 and a beta of 0.66.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (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 firm had revenue of $12.77 billion during the quarter, compared to analysts’ expectations of $12.57 billion. During the same period in the prior year, the business earned $1.73 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BG. BMO Capital Markets upped their target price on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Zacks Research upgraded Bunge Global from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Stephens upped their target price on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley set a $95.00 target price on Bunge Global in a research note on Monday. Finally, Barclays upped their target price on Bunge Global from $85.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $99.43.

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.