52,994 Bunge Global SA $BG Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in shares of Bunge Global SA (NYSE:BG) by 1,438.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,679 shares of the basic materials company’s stock after purchasing an additional 52,994 shares during the quarter. Ritholtz Wealth Management’s holdings in Bunge Global were worth $5,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BG. Bank of New York Mellon Corp bought a new position in shares of Bunge Global during the 2nd quarter valued at $266,653,000. Robeco Institutional Asset Management B.V. boosted its holdings in Bunge Global by 638.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company’s stock worth $217,777,000 after purchasing an additional 1,790,978 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Bunge Global by 3,204.4% in the third quarter. Retirement Systems of Alabama now owns 942,823 shares of the basic materials company’s stock worth $98,970,000 after purchasing an additional 914,291 shares in the last quarter. Keybank National Association OH boosted its holdings in Bunge Global by 2,644.2% in the third quarter. Keybank National Association OH now owns 566,174 shares of the basic materials company’s stock worth $59,441,000 after purchasing an additional 545,542 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Bunge Global by 7,859.7% in the third quarter. Commonwealth Equity Services LLC now owns 538,237 shares of the basic materials company’s stock worth $56,476,000 after purchasing an additional 531,475 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research downgraded shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. Weiss Ratings cut Bunge Global from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. UBS Group upped their price target on Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. BMO Capital Markets reissued an “outperform” rating and set a $150.00 price objective on shares of Bunge Global in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Bunge Global from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.38.

Bunge Global Trading Down 0.3%

NYSE:BG opened at $99.96 on Friday. Bunge Global SA has a 12 month low of $88.24 and a 12 month high of $134.87. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of 16.80 and a beta of 0.70. The company has a quick ratio of 0.65, a current ratio of 1.50 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $107.61 and its 200-day moving average is $116.45.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Thursday, October 29th. The basic materials company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.15. The business had revenue of $23.80 billion during the quarter, compared to analysts’ expectations of $23.28 billion. Bunge Global had a net margin of 1.24% and a return on equity of 9.34%. Bunge Global’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. Equities analysts anticipate that Bunge Global SA will post 9.63 EPS for the current year.

Bunge Global Company Profile

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains. The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services. Founded in 1818, Bunge expanded from its European origins into a global business.