Barometer Capital Management Inc. Invests $8.99 Million in Bunge Global SA $BG

Key Points

• Barometer Capital Management bought a new stake in Bunge Global SA in the first quarter, purchasing 70,700 shares valued at about $8.99 million. The position now makes up 3.7% of its portfolio and is its sixth-largest holding.
• Institutional ownership in Bunge Global remains high at 86.23%, and several other hedge funds also recently initiated or increased positions in the stock.
• Analysts are generally constructive on Bunge Global, with an average rating of Moderate Buy and an average price target of $132.67. The company also reported quarterly EPS of $1.83, topping estimates, though revenue came in below expectations.

Barometer Capital Management Inc. purchased a new stake in Bunge Global SA (NYSE:BG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 70,700 shares of the basic materials company's stock, valued at approximately $8,993,000. Bunge Global comprises 3.7% of Barometer Capital Management Inc.'s portfolio, making the stock its 6th biggest position.

Several other hedge funds have also added to or reduced their stakes in the business. Quest 10 Wealth Builders Inc. bought a new position in shares of Bunge Global during the 4th quarter valued at about $27,000. CYBER HORNET ETFs LLC bought a new stake in shares of Bunge Global during the second quarter worth $31,000. MUFG Securities EMEA plc acquired a new stake in shares of Bunge Global during the second quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Bunge Global in the 4th quarter valued at $35,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Bunge Global by 152.9% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 430 shares of the basic materials company's stock worth $35,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Bunge Global from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on Bunge Global from $130.00 to $134.00 and gave the company an "overweight" rating in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bunge Global in a report on Friday, May 22nd. Zacks Research lowered Bunge Global from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Finally, BMO Capital Markets lifted their price target on shares of Bunge Global from $135.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.67.

Bunge Global Trading Up 0.8%

BG opened at $121.48 on Wednesday. The company's 50 day moving average is $118.57 and its 200-day moving average is $118.58. The company has a market cap of $23.57 billion, a P/E ratio of 28.32 and a beta of 0.65. Bunge Global SA has a 1-year low of $74.35 and a 1-year high of $134.87. The company has a current ratio of 1.60, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.86. The company had revenue of $21.86 billion during the quarter, compared to analysts' expectations of $23.38 billion. Bunge Global had a return on equity of 8.60% and a net margin of 0.85%.Bunge Global's revenue was up 87.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 EPS. Bunge Global has set its FY 2026 guidance at 9.000-9.500 EPS. Equities research analysts predict that Bunge Global SA will post 9.74 earnings per share for the current fiscal year.

About Bunge Global

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company's core business activities are organized into agribusiness and food & ingredients segments.

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