250,646 Bunge Global SA $BG Shares Acquired by Ethic Inc.

Ethic Inc. raised its position in shares of Bunge Global SA (NYSE:BG) by 8,910.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,459 shares of the basic materials company’s stock after acquiring an additional 250,646 shares during the period. Ethic Inc. owned approximately 0.13% of Bunge Global worth $26,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of Bunge Global in the second quarter valued at $266,653,000. Robeco Institutional Asset Management B.V. increased its position in Bunge Global by 638.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company’s stock worth $217,777,000 after purchasing an additional 1,790,978 shares during the last quarter. Amundi increased its position in Bunge Global by 9.4% in the first quarter. Amundi now owns 1,186,039 shares of the basic materials company’s stock worth $150,853,000 after purchasing an additional 101,942 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Bunge Global by 7,859.7% during the third quarter. Commonwealth Equity Services LLC now owns 538,237 shares of the basic materials company’s stock valued at $56,476,000 after purchasing an additional 531,475 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Bunge Global by 3,023.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 520,120 shares of the basic materials company’s stock valued at $54,599,000 after purchasing an additional 503,469 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on BG. BMO Capital Markets reiterated an “outperform” rating and set a $150.00 price objective on shares of Bunge Global in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Bunge Global from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Zacks Research cut shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. lowered their price target on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Finally, UBS Group lifted their price target on Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.38.

Bunge Global Stock Performance

NYSE BG opened at $99.14 on Friday. The company has a market cap of $19.05 billion, a P/E ratio of 16.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50. The business’s 50 day moving average price is $109.12 and its 200-day moving average price is $116.71. Bunge Global SA has a fifty-two week low of $88.24 and a fifty-two week high of $134.87.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.15. The company had revenue of $23.80 billion for the quarter, compared to analyst estimates of $23.28 billion. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. Bunge Global’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.27 EPS. Sell-side analysts predict that Bunge Global SA will post 9.63 earnings per share for the current year.

About Bunge Global

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains.

The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services.

Founded in 1818, Bunge expanded from its European origins into a global business.