Bunge Global SA $BG Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Bunge Global stake by 5,745.9% in the third quarter, to 1.26 million shares valued at about $132.5 million. Other institutional investors also added shares; institutions own 86.23% of the company.
• Bunge reported quarterly EPS of $2.56, beating estimates of $2.41, while revenue of $23.8 billion also topped forecasts and rose 7.4% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $132.38; eight analysts rate the stock Buy, two Hold and one Sell.

Aberdeen Group plc grew its stake in Bunge Global SA (NYSE:BG - Free Report) by 5,745.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,263,069 shares of the basic materials company's stock after acquiring an additional 1,241,463 shares during the period. Aberdeen Group plc owned 0.66% of Bunge Global worth $132,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Moors & Cabot Inc. grew its stake in Bunge Global by 700.6% in the third quarter. Moors & Cabot Inc. now owns 42,954 shares of the basic materials company's stock worth $4,517,000 after purchasing an additional 37,589 shares in the last quarter. Allworth Financial LP raised its position in Bunge Global by 27,831.0% during the 3rd quarter. Allworth Financial LP now owns 336,010 shares of the basic materials company's stock valued at $35,936,000 after purchasing an additional 334,807 shares in the last quarter. Russell Investments Group Ltd. raised its position in Bunge Global by 23.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 95,680 shares of the basic materials company's stock valued at $10,257,000 after purchasing an additional 17,865 shares in the last quarter. Eurizon Capital SGR S.p.A. lifted its holdings in shares of Bunge Global by 5,241.2% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 1,047,513 shares of the basic materials company's stock worth $110,215,000 after buying an additional 1,027,901 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Bunge Global by 6,682.4% during the 3rd quarter. CENTRAL TRUST Co now owns 17,295 shares of the basic materials company's stock worth $1,815,000 after buying an additional 17,040 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BG. UBS Group raised their price target on Bunge Global from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. BMO Capital Markets restated an "outperform" rating and issued a $150.00 price target on shares of Bunge Global in a report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on Bunge Global from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Weiss Ratings downgraded Bunge Global from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Finally, Zacks Research downgraded Bunge Global from a "hold" rating to a "strong sell" rating in a research report on Friday, October 30th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.38.

Bunge Global Stock Up 1.7%

Shares of Bunge Global stock opened at $101.63 on Friday. 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 company has a market cap of $19.53 billion, a P/E ratio of 17.08 and a beta of 0.70. The firm's 50 day moving average price is $107.24 and its 200-day moving average price is $116.38. Bunge Global SA has a 52-week low of $88.24 and a 52-week high of $134.87.

Bunge Global (NYSE:BG - Get Free Report) last posted its earnings results on Thursday, October 29th. The basic materials company reported $2.56 EPS 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 company had revenue of $23.80 billion during the quarter, compared to analysts' expectations of $23.28 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. Bunge Global's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts predict that Bunge Global SA will post 9.63 EPS for the current fiscal year.

Bunge Global Company 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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