Pacer Advisors Inc. Grows Position in Bunge Global SA (NYSE:BG)

Pacer Advisors Inc. boosted its position in shares of Bunge Global SA (NYSE:BG) by 26.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,211,052 shares of the basic materials company’s stock after purchasing an additional 883,127 shares during the period. Bunge Global comprises 1.0% of Pacer Advisors Inc.’s holdings, making the stock its 20th biggest holding. Pacer Advisors Inc. owned approximately 2.97% of Bunge Global worth $449,614,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Bunge Global by 52.3% during the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Bunge Global by 185.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Bunge Global in the 2nd quarter valued at about $40,000. Atlas Capital Advisors LLC grew its stake in Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 277 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Bunge Global during the first quarter worth approximately $46,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

NYSE BG opened at $98.80 on Friday. The company has a market cap of $13.99 billion, a PE ratio of 7.95 and a beta of 0.65. The firm’s 50 day moving average price is $101.85 and its 200-day moving average price is $102.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $114.92.

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

Analyst Upgrades and Downgrades

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

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.