Managed Asset Portfolios LLC Purchases 2,858 Shares of Bunge Global SA $BG

Managed Asset Portfolios LLC lifted its position in shares of Bunge Global SA (NYSE:BG) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,818 shares of the basic materials company’s stock after purchasing an additional 2,858 shares during the quarter. Bunge Global accounts for 3.1% of Managed Asset Portfolios LLC’s portfolio, making the stock its 14th largest position. Managed Asset Portfolios LLC owned approximately 0.22% of Bunge Global worth $23,748,000 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. Cromwell Holdings LLC raised its stake in Bunge Global by 4,175.0% during the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after buying an additional 334 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Bunge Global in the second quarter worth about $29,000. Manchester Capital Management LLC raised its position in shares of Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 359 shares during the period. SVB Wealth LLC acquired a new stake in shares of Bunge Global during the first quarter worth about $38,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Bunge Global by 197.1% during 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. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG opened at $96.14 on Wednesday. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 8.28 and a beta of 0.76. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $99.55. The firm has a fifty day simple moving average of $88.51 and a 200 day simple moving average of $82.93. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same period in the previous year, the business earned $2.29 EPS. The company’s revenue was up 71.6% compared to the same quarter last year. Research analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BMO Capital Markets increased 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. Morgan Stanley set a $95.00 price objective 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 report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

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.