Bunge Global SA $BG Stake Lessened by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Bunge Global SA by 25.5%, holding now 36,429 shares valued at approximately $2.93 million.
• Various hedge funds have recently modified their positions in Bunge Global, with Cromwell Holdings LLC significantly increasing its holdings by 4,175%.
• Wall Street analysts have raised their price targets for Bunge Global, with a current consensus target price of $94.86 and multiple analysts rating it as a "Moderate Buy."

TD Asset Management Inc lowered its holdings in Bunge Global SA (NYSE:BG - Free Report) by 25.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,429 shares of the basic materials company's stock after selling 12,483 shares during the period. TD Asset Management Inc's holdings in Bunge Global were worth $2,925,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BG. Cromwell Holdings LLC lifted its holdings in shares of Bunge Global by 4,175.0% in the second 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 in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Bunge Global during the second quarter worth $29,000. Manchester Capital Management LLC raised its holdings in shares of Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock worth $32,000 after acquiring an additional 359 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Bunge Global during the first quarter worth $38,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Bunge Global by 197.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company's stock worth $39,000 after acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

BG has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Bunge Global from $95.00 to $107.00 and gave the stock an "overweight" rating in a report on Thursday, October 16th. Morgan Stanley increased their price objective on Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Stephens increased their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of Bunge Global in a report on Wednesday, October 8th. Finally, BMO Capital Markets increased their price objective on Bunge Global from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday. 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, the company has an average rating of "Moderate Buy" and a consensus target price of $94.86.

Insiders Place Their Bets

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $81.73 per share, with a total value of $408,650.00. Following the completion of the transaction, the director owned 7,164 shares in the company, valued at $585,513.72. This trade represents a 231.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Bunge Global Price Performance

NYSE BG opened at $97.29 on Tuesday. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $99.41. The stock's 50-day moving average is $83.39 and its two-hundred day moving average is $80.17. 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 P/E ratio of 9.72, a price-to-earnings-growth ratio of 8.34 and a beta of 0.66.

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

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.

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