Bunge Global SA (NYSE:BG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in Bunge Global SA (NYSE:BG) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,306 shares of the basic materials company’s stock after selling 906 shares during the period. Mackenzie Financial Corp’s holdings in Bunge Global were worth $3,663,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BG. SteelPeak Wealth LLC purchased a new stake in shares of Bunge Global in the 1st quarter worth about $2,137,000. Avantax Advisory Services Inc. purchased a new position in Bunge Global during the first quarter worth $899,000. Chevy Chase Trust Holdings LLC raised its holdings in shares of Bunge Global by 2,975.7% in the first quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock worth $8,249,000 after acquiring an additional 77,844 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Bunge Global by 17.9% in the first quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock valued at $4,247,000 after acquiring an additional 6,281 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Bunge Global by 22,962.5% during the first quarter. AdvisorNet Financial Inc now owns 7,380 shares of the basic materials company’s stock valued at $757,000 after acquiring an additional 7,348 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Price Performance

BG opened at $97.68 on Wednesday. Bunge Global SA has a 1 year low of $86.10 and a 1 year high of $114.92. The company’s 50 day simple moving average is $99.52 and its 200 day simple moving average is $103.31. The stock has a market capitalization of $13.83 billion, a PE ratio of 7.86 and a beta of 0.65. 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 (NYSE:BG) last announced its quarterly earnings results 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 firm had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.72 earnings per share. As a group, sell-side analysts expect that Bunge Global SA will post 9.3 EPS for the current year.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price target 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Company 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.