Bunge Global SA $BG Stock Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Bunge Global stake by 13,854.9% in the third quarter, to 263,468 shares worth about $27.6 million. Several other institutional investors also added shares; institutions own 86.23% of the company.
• Bunge reported quarterly earnings of $2.56 per share, beating the $2.41 consensus estimate, while revenue of $23.8 billion topped forecasts and rose 7.4% year over year.
• Analysts’ consensus rating is Moderate Buy, with a $132.38 average price target; ratings include eight Buys, two Holds, and one Sell.

Kestra Advisory Services LLC increased its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 13,854.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,468 shares of the basic materials company's stock after purchasing an additional 261,580 shares during the period. Kestra Advisory Services LLC owned 0.14% of Bunge Global worth $27,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BG. Bank of New York Mellon Corp acquired a new stake in Bunge Global during the 2nd quarter valued at $266,653,000. Robeco Institutional Asset Management B.V. increased its position in Bunge Global by 638.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company's stock worth $217,777,000 after buying an additional 1,790,978 shares in the last quarter. Amundi raised its holdings in shares of Bunge Global by 9.4% in the first quarter. Amundi now owns 1,186,039 shares of the basic materials company's stock worth $150,853,000 after acquiring an additional 101,942 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Bunge Global by 7,859.7% in the third quarter. Commonwealth Equity Services LLC now owns 538,237 shares of the basic materials company's stock worth $56,476,000 after acquiring an additional 531,475 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Bunge Global by 3,023.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 520,120 shares of the basic materials company's stock worth $54,599,000 after acquiring an additional 503,469 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BG shares. BMO Capital Markets restated an "outperform" rating and issued a $150.00 price objective on shares of Bunge Global in a research 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 on the stock in a research note on Monday, October 12th. UBS Group lifted their price objective on Bunge Global from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Zacks Research downgraded shares of Bunge Global from a "hold" rating to a "strong sell" rating in a research note on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Bunge Global from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 27th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.38.

Bunge Global Stock Up 0.6%

BG stock opened at $99.14 on Friday. The company has a 50 day moving average price of $109.12 and a two-hundred day moving average price of $116.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50. The stock has a market capitalization of $19.05 billion, a P/E ratio of 16.66 and a beta of 0.70. Bunge Global SA has a one year low of $88.24 and a one year high of $134.87.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.15. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The company had revenue of $23.80 billion for the quarter, compared to analyst estimates of $23.28 billion. During the same quarter in the prior year, the company posted $2.27 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Bunge Global SA will post 9.63 EPS for the current year.

Bunge Global 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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