28,617 Shares of Bunge Global SA $BG Bought by Gen Wealth Partners Inc

Key Points

• Gen Wealth Partners bought 28,617 Bunge Global shares in the third quarter, worth about $3.0 million and representing 0.8% of its portfolio.
• Other institutional investors also increased or initiated holdings; institutions and hedge funds own 86.23% of Bunge shares.
• Bunge beat quarterly earnings and revenue estimates, with sales up 7.4% year over year. Analysts’ consensus rating is “Moderate Buy,” with a $132.38 price target.

Gen Wealth Partners Inc bought a new stake in Bunge Global SA (NYSE:BG - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,617 shares of the basic materials company's stock, valued at approximately $3,004,000. Bunge Global accounts for about 0.8% of Gen Wealth Partners Inc's investment portfolio, making the stock its 26th biggest position.

A number of other large investors have also recently made changes to their positions in BG. Bank of New York Mellon Corp purchased a new stake in Bunge Global in the second quarter valued at approximately $266,653,000. Robeco Institutional Asset Management B.V. grew its position in shares of Bunge Global by 638.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company's stock worth $217,777,000 after acquiring an additional 1,790,978 shares during the last quarter. Amundi grew its position in shares of Bunge Global by 9.4% during the first quarter. Amundi now owns 1,186,039 shares of the basic materials company's stock worth $150,853,000 after acquiring an additional 101,942 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Bunge Global by 3,204.4% in the 3rd quarter. Retirement Systems of Alabama now owns 942,823 shares of the basic materials company's stock valued at $98,970,000 after acquiring an additional 914,291 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Bunge Global by 7,859.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 538,237 shares of the basic materials company's stock valued at $56,476,000 after acquiring an additional 531,475 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Up 1.9%

Shares of BG stock opened at $101.00 on Tuesday. The business's 50 day moving average is $108.83 and its two-hundred day moving average is $116.66. Bunge Global SA has a twelve month low of $88.24 and a twelve month high of $134.87. The company has a market capitalization of $19.41 billion, a P/E ratio of 16.97 and a beta of 0.70. The company has a current ratio of 1.50, a quick ratio of 0.65 and a debt-to-equity ratio of 0.50.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.15. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The business had revenue of $23.80 billion for the quarter, compared to analyst estimates of $23.28 billion. During the same quarter in the previous year, the company posted $2.27 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts forecast that Bunge Global SA will post 9.63 EPS for the current year.

Analyst Ratings Changes

BG has been the subject of several research reports. BMO Capital Markets reiterated an "outperform" rating and issued a $150.00 price target on shares of Bunge Global in a research report on Thursday, August 13th. Weiss Ratings raised shares of Bunge Global from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 27th. Zacks Research downgraded shares of Bunge Global from a "hold" rating to a "strong sell" rating in a research report on Friday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Bunge Global from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Monday, October 12th. Finally, UBS Group upped their target price on shares of Bunge Global from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.38.

Bunge Global Profile

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains.

The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services.

Founded in 1818, Bunge expanded from its European origins into a global business.

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