334,807 Bunge Global SA $BG Shares Purchased by Allworth Financial LP

Key Points

• Allworth Financial LP sharply increased its Bunge Global stake, buying 334,807 shares in the third quarter to hold 336,010 shares worth about $35.9 million. Institutional investors and hedge funds collectively own 86.23% of the stock.
• Analyst views are mixed, but Bunge has a “Moderate Buy” consensus rating from 11 analysts and an average price target of $132.38.
• Bunge reported quarterly earnings of $2.56 per share, beating estimates of $2.41, while revenue rose 7.4% year over year to $23.8 billion. Shares opened at $99.96, down 0.3%.

Allworth Financial LP increased its stake in Bunge Global SA (NYSE:BG - Free Report) by 27,831.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 336,010 shares of the basic materials company's stock after purchasing an additional 334,807 shares during the quarter. Allworth Financial LP owned approximately 0.17% of Bunge Global worth $35,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BG. Clark Wealth Partners lifted its stake in shares of Bunge Global by 3,657.1% in the third quarter. Clark Wealth Partners now owns 263 shares of the basic materials company's stock valued at $28,000 after buying an additional 256 shares during the period. Provenance Wealth Advisors LLC bought a new stake in shares of Bunge Global in the 3rd quarter worth approximately $46,000. Ameritas Advisory Services LLC bought a new stake in shares of Bunge Global in the 2nd quarter worth approximately $50,000. Hilltop National Bank acquired a new stake in shares of Bunge Global during the 2nd quarter worth approximately $63,000. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of Bunge Global by 54.0% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 622 shares of the basic materials company's stock worth $66,000 after purchasing an additional 218 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on BG shares. Weiss Ratings lowered shares of Bunge Global from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. 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 research note on Thursday, September 10th. JPMorgan Chase & Co. dropped their price target on shares of Bunge Global from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Monday, October 12th. Zacks Research cut shares of Bunge Global from a "hold" rating to a "strong sell" rating in a research note on Friday, October 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $150.00 price objective on shares of Bunge Global in a report on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bunge Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.38.

Bunge Global Stock Down 0.3%

Shares of NYSE:BG opened at $99.96 on Friday. Bunge Global SA has a 12 month low of $88.24 and a 12 month high of $134.87. The company's 50-day moving average price is $107.61 and its two-hundred day moving average price is $116.45. The company has a quick ratio of 0.65, a current ratio of 1.50 and a debt-to-equity ratio of 0.50. The firm has a market cap of $19.21 billion, a P/E ratio of 16.80 and a beta of 0.70.

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

About Bunge Global

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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