Bunge Global SA (NYSE:BG) Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in Bunge Global SA (NYSE:BG) by 212.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 65,843 shares of the basic materials company’s stock after purchasing an additional 44,742 shares during the period. Mediolanum International Funds Ltd’s holdings in Bunge Global were worth $6,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BG. Wellington Management Group LLP boosted its stake in Bunge Global by 15.0% in the fourth quarter. Wellington Management Group LLP now owns 25,739 shares of the basic materials company’s stock valued at $2,598,000 after acquiring an additional 3,366 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Bunge Global during the first quarter worth about $221,000. SteelPeak Wealth LLC acquired a new stake in shares of Bunge Global during the first quarter worth about $2,137,000. LVW Advisors LLC acquired a new stake in shares of Bunge Global during the first quarter worth about $209,000. Finally, Diversified Trust Co acquired a new stake in shares of Bunge Global during the first quarter worth about $221,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of NYSE:BG opened at $89.78 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The company has a market cap of $12.71 billion, a P/E ratio of 7.23 and a beta of 0.64. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $114.92. The company has a 50-day moving average price of $96.72 and a 200 day moving average price of $102.36.

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

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their target price for the stock 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.