Ashton Thomas Private Wealth LLC Takes Position in Bunge Global SA (NYSE:BG)

Ashton Thomas Private Wealth LLC bought a new stake in shares of Bunge Global SA (NYSE:BG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 377 shares of the basic materials company’s stock, valued at approximately $40,000.

A number of other hedge funds have also recently modified their holdings of BG. Norges Bank bought a new position in Bunge Global in the fourth quarter worth approximately $128,092,000. Vanguard Group Inc. grew its stake in Bunge Global by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after purchasing an additional 578,065 shares in the last quarter. LSV Asset Management grew its stake in Bunge Global by 33.4% in the first quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock worth $195,743,000 after purchasing an additional 478,559 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Bunge Global in the first quarter worth approximately $26,817,000. Finally, Franklin Resources Inc. grew its stake in Bunge Global by 320.0% in the fourth quarter. Franklin Resources Inc. now owns 244,648 shares of the basic materials company’s stock worth $24,708,000 after purchasing an additional 186,395 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Stock Performance

Shares of BG opened at $97.27 on Tuesday. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $114.92. The stock has a fifty day moving average price of $102.57 and a 200-day moving average price of $102.97. The company has a current ratio of 2.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $13.77 billion, a PE ratio of 7.83 and a beta of 0.65.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The business had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.72 EPS. Equities research analysts predict that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

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.