Old West Investment Management LLC Has $13.57 Million Stock Holdings in Bunge Global SA $BG

Old West Investment Management LLC grew its stake in shares of Bunge Global SA (NYSE:BG) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,028 shares of the basic materials company’s stock after purchasing an additional 5,837 shares during the quarter. Bunge Global comprises about 4.5% of Old West Investment Management LLC’s portfolio, making the stock its 6th biggest holding. Old West Investment Management LLC owned about 0.13% of Bunge Global worth $13,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its position 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 valued at $27,000 after purchasing an additional 334 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Bunge Global during the 2nd quarter worth $29,000. Manchester Capital Management LLC grew its stake in Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock worth $32,000 after buying an additional 359 shares in the last quarter. SVB Wealth LLC acquired a new position in Bunge Global during the first quarter valued at approximately $38,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bunge Global by 197.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BG. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. JPMorgan Chase & Co. upped their target price on Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. BMO Capital Markets increased their price target on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Stephens lifted their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Insider Transactions at Bunge Global

In related news, Director Christopher Mahoney bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the transaction, the director owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. The trade was a 231.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.

Bunge Global Stock Performance

NYSE BG opened at $96.88 on Friday. The firm has a market cap of $18.73 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $87.85 and its 200-day moving average is $82.55. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. Sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

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.