Bunge Global SA (NYSE:BG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Bunge Global SA (NYSE:BG) by 42.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,693 shares of the basic materials company’s stock after selling 82,774 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Bunge Global worth $10,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 during the period. Pacer Advisors Inc. boosted its holdings in Bunge Global by 26.5% in the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after purchasing an additional 883,127 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Bunge Global by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock worth $243,664,000 after purchasing an additional 121,080 shares during the period. LSV Asset Management boosted its holdings in Bunge Global by 10.7% in the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock worth $225,629,000 after purchasing an additional 203,910 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Bunge Global by 23.4% in the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after purchasing an additional 184,245 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of NYSE BG traded up $1.50 during midday trading on Friday, reaching $98.17. 833,230 shares of the company traded hands, compared to its average volume of 1,486,904. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $114.92. The stock has a 50-day moving average price of $98.89 and a 200 day moving average price of $103.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 7.90 and a beta of 0.64.

Bunge Global (NYSE:BG) last issued its quarterly earnings data 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 net margin of 2.33% and a return on equity of 14.84%. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the firm earned $3.72 earnings per share. Bunge Global’s revenue for the quarter was down 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bunge Global currently 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.