Bunge Global SA $BG Stock: Fifth Third Bancorp Grows Position

Fifth Third Bancorp raised its stake in shares of Bunge Global SA (NYSE:BG) by 20,301.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 995,794 shares of the basic materials company’s stock after purchasing an additional 990,913 shares during the period. Fifth Third Bancorp’s holdings in Bunge Global were worth $104,469,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of BG. Three Bridge Wealth Advisors LLC purchased a new position in shares of Bunge Global during the 3rd quarter valued at about $1,981,000. Maryland State Retirement & Pension System increased its holdings in Bunge Global by 1,547.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 115,074 shares of the basic materials company’s stock worth $12,088,000 after acquiring an additional 108,091 shares in the last quarter. Advisor Resource Council increased its holdings in Bunge Global by 36.6% in the 3rd quarter. Advisor Resource Council now owns 5,344 shares of the basic materials company’s stock worth $574,000 after acquiring an additional 1,432 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Bunge Global by 1,438.1% in the 3rd quarter. Ritholtz Wealth Management now owns 56,679 shares of the basic materials company’s stock worth $5,953,000 after acquiring an additional 52,994 shares in the last quarter. Finally, Silver Grove Financial Group Inc. increased its holdings in Bunge Global by 1,487.3% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 2,381 shares of the basic materials company’s stock worth $250,000 after acquiring an additional 2,231 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of NYSE BG opened at $100.39 on Thursday. The company has a market cap of $19.29 billion, a P/E ratio of 16.87 and a beta of 0.70. Bunge Global SA has a 52-week low of $88.24 and a 52-week high of $134.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50. The firm’s fifty day moving average is $108.08 and its two-hundred day moving average is $116.52.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Bunge Global from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. JPMorgan Chase & Co. dropped their price target on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. UBS Group increased their price objective on shares of Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Zacks Research downgraded shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $150.00 target price 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.38.

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.