Ensign Peak Advisors Inc Has $29.71 Million Stake in Bunge Global SA (NYSE:BG)

Ensign Peak Advisors Inc raised its stake in Bunge Global SA (NYSE:BG) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 278,258 shares of the basic materials company’s stock after buying an additional 11,121 shares during the quarter. Ensign Peak Advisors Inc owned 0.20% of Bunge Global worth $29,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Bunge Global by 26.5% during the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after buying an additional 883,127 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Bunge Global by 3.1% during 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 buying an additional 578,065 shares in the last quarter. LSV Asset Management grew its holdings in shares of Bunge Global by 33.4% during the first quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock worth $195,743,000 after buying an additional 478,559 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Bunge Global in the first quarter valued at 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 valued at $24,708,000 after purchasing an additional 186,395 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Performance

BG opened at $98.80 on Monday. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $114.92. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 7.95 and a beta of 0.65. The business has a 50 day moving average of $101.61 and a 200-day moving average of $103.17. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37.

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

About Bunge Global

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.