Greenwood Capital Associates LLC Purchases New Position in Bunge Global SA $BG

Key Points

• Greenwood Capital Associates LLC has acquired a new position in Bunge Global SA, purchasing 12,330 shares valued at approximately $990,000 during the second quarter.
• Compared to the previous year, Bunge Global reported a decrease in revenue by 3.6% in its latest quarterly earnings, with earnings per share (EPS) of $1.31.
• Brokerages are optimistic about Bunge Global's future, with Morgan Stanley raising their price target to $83.00 and JPMorgan issuing an "overweight" rating with a target of $95.00.

Greenwood Capital Associates LLC bought a new position in shares of Bunge Global SA (NYSE:BG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,330 shares of the basic materials company's stock, valued at approximately $990,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Centennial Wealth Advisory LLC purchased a new stake in shares of Bunge Global during the second quarter worth approximately $449,000. Kingsview Wealth Management LLC acquired a new position in Bunge Global in the 1st quarter valued at $9,180,000. GAMMA Investing LLC boosted its holdings in shares of Bunge Global by 152.1% in the first quarter. GAMMA Investing LLC now owns 3,275 shares of the basic materials company's stock valued at $250,000 after acquiring an additional 1,976 shares in the last quarter. Old West Investment Management LLC boosted its holdings in shares of Bunge Global by 31.2% in the first quarter. Old West Investment Management LLC now owns 163,191 shares of the basic materials company's stock valued at $12,471,000 after acquiring an additional 38,777 shares in the last quarter. Finally, International Private Wealth Advisors LLC acquired a new stake in Bunge Global in the second quarter valued at about $273,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Insider Buying and Selling

In related news, Director Christopher Mahoney purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $585,513.72. This trade represents a 231.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BG. Morgan Stanley upped 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Bunge Global in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bunge Global in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $85.33.

Bunge Global Trading Up 1.2%

Bunge Global stock opened at $84.01 on Friday. The stock has a market cap of $16.81 billion, a PE ratio of 8.39, a P/E/G ratio of 6.20 and a beta of 0.66. The stock has a 50-day moving average price of $81.87 and a 200 day moving average price of $79.20. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $99.39. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

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

Bunge Global Company 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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