Glencore plc Takes Position in Bunge Global SA $BG

Glencore plc bought a new position in shares of Bunge Global SA (NYSE:BG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,806,103 shares of the basic materials company’s stock, valued at approximately $2,665,496,000. Bunge Global makes up approximately 67.2% of Glencore plc’s investment portfolio, making the stock its largest position. Glencore plc owned about 16.40% of Bunge Global as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CoreCap Advisors LLC increased its stake in Bunge Global by 2,000.0% during the 3rd quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock worth $26,000 after buying an additional 300 shares in the last quarter. Cromwell Holdings LLC boosted its stake in shares of Bunge Global by 4,175.0% in the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 334 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Bunge Global during the third quarter worth approximately $28,000. Ameritas Advisory Services LLC acquired a new position in Bunge Global in the 2nd quarter valued at $29,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Bunge Global in the 2nd quarter valued at $31,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Price Performance

Shares of BG stock opened at $113.55 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83. The company has a market capitalization of $21.96 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. The firm’s 50-day moving average is $96.00 and its two-hundred day moving average is $88.38. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.00.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.04. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The business’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 EPS. Analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BG. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Bank of America boosted their price target on shares of Bunge Global from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Stephens upped their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Bunge Global from $109.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $110.67.

Insider Activity at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.