Old West Investment Management LLC Grows Holdings in Bunge Global SA $BG

Old West Investment Management LLC boosted its holdings in Bunge Global SA (NYSE:BG) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,028 shares of the basic materials company’s stock after purchasing an additional 5,837 shares during the period. Bunge Global makes up 4.5% of Old West Investment Management LLC’s portfolio, making the stock its 6th largest position. Old West Investment Management LLC’s holdings in Bunge Global were worth $13,570,000 as of its most recent SEC filing.

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

Bunge Global Trading Up 0.6%

Shares of BG opened at $96.88 on Friday. The firm’s 50-day moving average price is $87.85 and its 200-day moving average price is $82.55. The firm has a market capitalization of $18.73 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 8.28 and a beta of 0.76. 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 SA has a 1-year low of $67.40 and a 1-year high of $99.55.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. Bunge Global’s revenue was up 71.6% on a year-over-year basis. Sell-side analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on BG shares. Stephens lifted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. CICC Research boosted their price objective on shares of Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. BMO Capital Markets increased their target price on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Finally, Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Activity

In other news, Director Christopher Mahoney bought 5,000 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $81.73 per share, for a total transaction of $408,650.00. Following the purchase, the director directly owned 7,164 shares in the company, valued at $585,513.72. This trade represents a 231.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Bunge Global 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.