Allianz Asset Management GmbH Cuts Stock Holdings in Bunge Global SA $BG

Key Points

• Allianz Asset Management GmbH reduced its stake in Bunge Global SA by 15.5%, selling 38,074 shares and leaving them with 207,096 shares valued at approximately $16.6 million.
• Institutional investors hold 86.23% of Bunge Global's stock, with significant increases in holdings from firms like Cromwell Holdings and Manchester Capital Management.
• Analysts have raised price targets for Bunge Global, with recommendations including a new target of $115.00 from Stephens, indicating a positive outlook for the stock.

Allianz Asset Management GmbH decreased its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 15.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 207,096 shares of the basic materials company's stock after selling 38,074 shares during the period. Allianz Asset Management GmbH owned 0.15% of Bunge Global worth $16,626,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC increased its position 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 valued at $27,000 after purchasing an additional 334 shares during the period. Ameritas Advisory Services LLC purchased a new position in Bunge Global during the 2nd quarter valued at about $29,000. Manchester Capital Management LLC increased its position in Bunge Global by 588.5% during the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 359 shares during the period. SVB Wealth LLC bought a new stake in shares of Bunge Global in the 1st quarter valued at about $38,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings 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 buying an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BG. Morgan Stanley raised their price target on shares of Bunge Global from $74.00 to $83.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. BMO Capital Markets raised their price target on shares of Bunge Global from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Bunge Global from $95.00 to $107.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. Weiss Ratings restated a "hold (c)" rating on shares of Bunge Global in a report on Wednesday, October 8th. Finally, Stephens raised their price target on shares of Bunge Global from $85.00 to $115.00 and gave the company an "overweight" rating in a report on Friday. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Bunge Global has a consensus rating of "Moderate Buy" and a consensus target price of $94.86.

Bunge Global Price Performance

NYSE:BG opened at $97.29 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 8.34 and a beta of 0.66. The company has a 50 day moving average price of $83.39 and a 200-day moving average price of $80.17. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $99.41.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.19 by $0.12. The company had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Equities research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Insider Buying and Selling

In related news, Director Christopher Mahoney purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $81.73 per share, with a total value of $408,650.00. Following the acquisition, the director owned 7,164 shares in the company, valued at $585,513.72. The trade was a 231.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.80% of the company's stock.

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.

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