First Trust Advisors LP Sells 18,393 Shares of Bunge Global SA $BG

First Trust Advisors LP trimmed its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,846 shares of the basic materials company's stock after selling 18,393 shares during the quarter. First Trust Advisors LP owned 0.12% of Bunge Global worth $29,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Glencore plc raised its position in Bunge Global by 100.0% in the 4th quarter. Glencore plc now owns 65,612,206 shares of the basic materials company's stock worth $5,844,735,000 after purchasing an additional 32,806,103 shares during the period. Vanguard Group Inc. grew its stake in shares of Bunge Global by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 17,570,009 shares of the basic materials company's stock valued at $1,565,136,000 after buying an additional 777,805 shares during the last quarter. Pacific Point Advisors LLC purchased a new stake in shares of Bunge Global in the fourth quarter worth approximately $1,436,000. KBC Group NV lifted its stake in shares of Bunge Global by 35.9% during the 4th quarter. KBC Group NV now owns 37,284 shares of the basic materials company's stock worth $3,321,000 after acquiring an additional 9,849 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Bunge Global during the 4th quarter worth approximately $560,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

BG has been the topic of a number of recent analyst reports. Zacks Research lowered Bunge Global from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Weiss Ratings restated a "hold (c)" rating on shares of Bunge Global in a report on Friday, May 22nd. BMO Capital Markets lifted their price objective on shares of Bunge Global from $135.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, March 31st. Finally, Barclays boosted their price objective on shares of Bunge Global from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $132.67.

Bunge Global Price Performance

BG opened at $117.72 on Wednesday. The company has a market capitalization of $22.84 billion, a price-to-earnings ratio of 27.44 and a beta of 0.65. The company has a current ratio of 1.60, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. Bunge Global SA has a 12-month low of $74.95 and a 12-month high of $134.87. The business's fifty day simple moving average is $118.27 and its 200-day simple moving average is $119.58.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.86. Bunge Global had a return on equity of 8.60% and a net margin of 0.85%.The firm had revenue of $21.86 billion during the quarter, compared to the consensus estimate of $23.38 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The firm's quarterly revenue was up 87.8% on a year-over-year basis. On average, equities research analysts anticipate that Bunge Global SA will post 9.74 earnings per share for the current fiscal year.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company's core business activities are organized into agribusiness and food & ingredients segments.

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