Bunge Global SA $BG Stock Bought by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services increased its Bunge stake by 7,859.7% in the third quarter, adding 531,475 shares to hold 538,237 shares valued at about $56.5 million. Institutional investors own 86.23% of the stock.
• Bunge reported quarterly earnings of $2.56 per share, beating estimates of $2.41, while revenue rose 7.4% year over year to $23.8 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $132.38; shares opened at $99.14 in the article’s reported session.

Commonwealth Equity Services LLC boosted its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 7,859.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 538,237 shares of the basic materials company's stock after purchasing an additional 531,475 shares during the quarter. Commonwealth Equity Services LLC owned about 0.28% of Bunge Global worth $56,476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BG. Chicago Partners Investment Group LLC lifted its stake in Bunge Global by 5.4% in the third quarter. Chicago Partners Investment Group LLC now owns 2,130 shares of the basic materials company's stock worth $220,000 after acquiring an additional 110 shares during the period. Ascent Group LLC increased its position in Bunge Global by 9.3% during the 3rd quarter. Ascent Group LLC now owns 15,493 shares of the basic materials company's stock valued at $1,657,000 after purchasing an additional 1,320 shares during the period. Rakuten Investment Management Inc. purchased a new position in Bunge Global during the 3rd quarter valued at about $2,837,000. Provenance Wealth Advisors LLC purchased a new position in Bunge Global during the 3rd quarter valued at about $46,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Bunge Global by 15.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 19,368 shares of the basic materials company's stock valued at $2,071,000 after purchasing an additional 2,652 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Performance

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

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on BG. UBS Group upped their price target on shares of Bunge Global from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. cut their price objective on shares of Bunge Global from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Monday, October 12th. Zacks Research downgraded shares of Bunge Global from a "hold" rating to a "strong sell" rating in a research note on Friday, October 30th. BMO Capital Markets restated an "outperform" rating and set a $150.00 target price on shares of Bunge Global in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded 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 issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $132.38.

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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