Rakuten Investment Management Inc. Buys New Stake in Bunge Global SA $BG

Rakuten Investment Management Inc. bought a new position in shares of Bunge Global SA (NYSE:BG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 26,233 shares of the basic materials company’s stock, valued at approximately $2,837,000.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in Bunge Global in the second quarter valued at $266,653,000. Robeco Institutional Asset Management B.V. raised its stake in Bunge Global by 638.8% during 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 acquiring an additional 1,790,978 shares in the last quarter. Amundi lifted its holdings in shares of Bunge Global by 9.4% during the first quarter. Amundi now owns 1,186,039 shares of the basic materials company’s stock valued at $150,853,000 after acquiring an additional 101,942 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Bunge Global by 3,023.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 520,120 shares of the basic materials company’s stock valued at $54,599,000 after acquiring an additional 503,469 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Bunge Global by 3.5% during the first quarter. Swiss National Bank now owns 397,200 shares of the basic materials company’s stock valued at $50,524,000 after acquiring an additional 13,500 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BG. JPMorgan Chase & Co. lowered their target price on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Zacks Research downgraded shares of Bunge Global from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. UBS Group boosted their price target on shares of Bunge Global from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Weiss Ratings upgraded shares of Bunge Global from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Bunge Global in a research note on Thursday, August 13th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.38.

Bunge Global Price Performance

Shares of BG stock opened at $99.14 on Friday. Bunge Global SA has a 1 year low of $88.24 and a 1 year high of $134.87. The company has a current ratio of 1.50, a quick ratio of 0.65 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $109.12 and its 200-day moving average is $116.71. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 16.66 and a beta of 0.70.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.15. Bunge Global had a net margin of 1.24% and a return on equity of 9.34%. The business had revenue of $23.80 billion during the quarter, compared to analyst estimates of $23.28 billion. During the same quarter last year, the business posted $2.27 earnings per share. Bunge Global’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that Bunge Global SA will post 9.63 EPS for the current fiscal year.

Bunge Global 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.