Engineers Gate Manager LP Purchases 153,397 Shares of Bunge Global SA $BG

Key Points

• Engineers Gate Manager LP increased its Bunge Global stake by 7,526.8% in the second quarter, buying 153,397 shares to own 155,435 shares worth approximately $16.6 million.
• Institutional investors and hedge funds hold 86.23% of Bunge Global’s stock, with California State Teachers Retirement System making a particularly large increase of more than 18.1 million shares.
• Bunge reported quarterly earnings of $2.00 per share, slightly above estimates, while revenue rose 88.3% year over year to $24.04 billion. Analysts maintain a “Moderate Buy” consensus rating with a $132.67 average price target.

Engineers Gate Manager LP boosted its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 7,526.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,435 shares of the basic materials company's stock after acquiring an additional 153,397 shares during the period. Engineers Gate Manager LP owned 0.08% of Bunge Global worth $16,590,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in Bunge Global by 11,553.9% in the 2nd quarter. California State Teachers Retirement System now owns 18,316,682 shares of the basic materials company's stock valued at $1,954,939,000 after purchasing an additional 18,159,510 shares during the period. Capital World Investors increased its holdings in shares of Bunge Global by 2.5% during the fourth quarter. Capital World Investors now owns 16,602,320 shares of the basic materials company's stock worth $1,478,960,000 after buying an additional 402,320 shares in the last quarter. State Street Corp increased its stake in shares of Bunge Global by 0.3% in the fourth quarter. State Street Corp now owns 6,940,141 shares of the basic materials company's stock valued at $618,260,000 after buying an additional 18,819 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Bunge Global in the 2nd quarter worth approximately $266,653,000. Finally, FIL Ltd raised its holdings in Bunge Global by 8.0% during the 4th quarter. FIL Ltd now owns 2,426,049 shares of the basic materials company's stock worth $216,112,000 after purchasing an additional 179,850 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BG shares. BMO Capital Markets reiterated an "outperform" rating and issued a $150.00 price target on shares of Bunge Global in a research report on Thursday, August 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Bunge Global in a research report on Wednesday, August 19th. Finally, Zacks Research cut Bunge Global from a "strong-buy" rating to a "hold" rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.67.

Bunge Global Price Performance

NYSE:BG opened at $123.28 on Thursday. The company has a market cap of $23.68 billion, a P/E ratio of 23.94 and a beta of 0.67. Bunge Global SA has a 52-week low of $76.01 and a 52-week high of $134.87. The stock's 50-day simple moving average is $114.51 and its 200 day simple moving average is $119.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.64 and a current ratio of 1.57.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.97 by $0.03. The company had revenue of $24.04 billion during the quarter, compared to the consensus estimate of $22.81 billion. Bunge Global had a return on equity of 9.15% and a net margin of 1.10%.The firm's revenue for the quarter was up 88.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. Bunge Global has set its FY 2026 guidance at 9.250-9.750 EPS. As a group, sell-side analysts forecast that Bunge Global SA will post 9.72 EPS for the current fiscal year.

Insider Transactions at Bunge Global

In other Bunge Global news, Director Christopher Mahoney bought 5,000 shares of Bunge Global stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $105.53 per share, with a total value of $527,650.00. Following the acquisition, the director owned 13,320 shares in the company, valued at $1,405,659.60. This trade represents a 60.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Bunge Global Profile

Bunge Global SA NYSE: BG is a global agribusiness and food company that sources, handles, processes and distributes agricultural commodities. Its activities include the origination, storage and transportation of oilseeds, grains and other agricultural products, as well as the production of vegetable oils, protein meals, specialty fats, ingredients and other food-related products.

The company serves food manufacturers, animal-feed producers, farmers, commercial customers and consumers through operations spanning North and South America, Europe, Asia and other international markets.

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