Lombard Odier Asset Management Switzerland SA Takes Position in Bunge Global SA $BG

Lombard Odier Asset Management Switzerland SA bought a new position in shares of Bunge Global SA (NYSE:BG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,164 shares of the basic materials company’s stock, valued at approximately $657,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Services Automobile Association bought a new position in Bunge Global during the first quarter valued at about $223,000. Woodline Partners LP grew its stake in shares of Bunge Global by 34.5% in the 1st quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company’s stock worth $862,000 after purchasing an additional 2,893 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Bunge Global by 16.7% in the 1st quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 580 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Bunge Global by 118.8% during the second quarter. EverSource Wealth Advisors LLC now owns 910 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 494 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Bunge Global by 1.1% during the second quarter. Baird Financial Group Inc. now owns 23,760 shares of the basic materials company’s stock worth $1,907,000 after buying an additional 263 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BG. BMO Capital Markets upped their price target on Bunge Global from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Zacks Research downgraded Bunge Global from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Barclays lifted their price target on Bunge Global from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a research note on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.67.

Bunge Global Stock Performance

Shares of BG stock 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. Bunge Global SA has a 1-year low of $74.95 and a 1-year high of $134.87. The company has a current ratio of 1.60, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $118.27 and its 200-day simple moving average is $119.58.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, topping 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 prior year, the business earned $1.81 EPS. The business’s revenue for the quarter was up 87.8% on a year-over-year basis. On average, sell-side analysts predict that Bunge Global SA will post 9.74 earnings per share for the current fiscal year.

About Bunge Global

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.