Bunge Global SA $BG Stake Lifted by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has increased its stake in Bunge Global SA by 118.1% in Q1, owning 77,472 shares valued at approximately $5.9 million.
• JPMorgan Chase initiated coverage with an "overweight" rating and a price target of $95.00, while Morgan Stanley raised their target to $83.00 as Bunge maintains a "Moderate Buy" rating.
• Bunge reported a Q2 EPS of $1.31, surpassing estimates and indicated a fiscal year guidance of 7.750 EPS, despite a revenue decline of 3.6% year-over-year.

Acadian Asset Management LLC boosted its stake in Bunge Global SA (NYSE:BG - Free Report) by 118.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,472 shares of the basic materials company's stock after acquiring an additional 41,949 shares during the quarter. Acadian Asset Management LLC owned about 0.06% of Bunge Global worth $5,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Bunge Global by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock worth $255,756,000 after acquiring an additional 859,733 shares during the period. Invesco Ltd. boosted its holdings in Bunge Global by 3.8% in the 1st quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company's stock worth $254,446,000 after acquiring an additional 122,931 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Bunge Global by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,603,669 shares of the basic materials company's stock worth $122,552,000 after acquiring an additional 101,586 shares during the period. Voloridge Investment Management LLC boosted its holdings in Bunge Global by 443.2% in the 4th quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock worth $94,503,000 after acquiring an additional 991,607 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new position in Bunge Global in the 1st quarter worth approximately $92,552,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BG. Morgan Stanley upped their target price on Bunge Global from $74.00 to $83.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. began coverage on Bunge Global in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.33.

Bunge Global Stock Performance

Shares of BG stock traded down $0.50 on Thursday, hitting $79.91. 1,625,668 shares of the stock traded hands, compared to its average volume of 1,942,775. 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 company has a market capitalization of $15.99 billion, a PE ratio of 7.98, a PEG ratio of 6.00 and a beta of 0.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $100.48. The company's fifty day moving average is $80.67 and its 200 day moving average is $78.69.

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

Insider Activity

In other news, Director Christopher Mahoney purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $81.73 per share, with a total value of $408,650.00. Following the transaction, the director owned 7,164 shares in the company, valued at approximately $585,513.72. The trade was a 231.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

Bunge Global 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.