Assetmark Inc. Increases Stake in Bunge Global SA $BG

Assetmark Inc. lifted its stake in Bunge Global SA (NYSE:BG) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,225 shares of the basic materials company’s stock after acquiring an additional 2,306 shares during the period. Assetmark Inc.’s holdings in Bunge Global were worth $1,865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BG. Cromwell Holdings LLC raised its position in shares of Bunge Global by 4,175.0% in the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 334 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Bunge Global during the 2nd quarter worth approximately $29,000. Manchester Capital Management LLC raised its position in Bunge Global by 588.5% during the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock worth $32,000 after buying an additional 359 shares during the last quarter. SVB Wealth LLC purchased a new position in Bunge Global during the 1st quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Bunge Global by 197.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock worth $39,000 after buying an additional 341 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on BG. Morgan Stanley set a $95.00 price target on shares of Bunge Global in a research report on Monday, October 27th. Barclays boosted their price objective on Bunge Global from $85.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on Bunge Global from $95.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.43.

Bunge Global Price Performance

NYSE:BG opened at $93.90 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 8.28 and a beta of 0.66. The company has a 50 day moving average price of $86.09 and a 200-day moving average price of $81.82. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $99.55.

Insider Buying and Selling at Bunge Global

In related news, Director Christopher Mahoney purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $81.73 per share, with a total value of $408,650.00. Following the acquisition, the director owned 7,164 shares in the company, valued at $585,513.72. The trade was a 231.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

About Bunge Global

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.