Eurizon Capital SGR S.p.A. Buys 1,027,901 Shares of Bunge Global SA $BG

Eurizon Capital SGR S.p.A. increased its stake in shares of Bunge Global SA (NYSE:BG) by 5,241.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,047,513 shares of the basic materials company’s stock after purchasing an additional 1,027,901 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Bunge Global were worth $110,215,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CENTRAL TRUST Co boosted its stake in shares of Bunge Global by 6,682.4% during the third quarter. CENTRAL TRUST Co now owns 17,295 shares of the basic materials company’s stock valued at $1,815,000 after purchasing an additional 17,040 shares during the period. Fifth Third Bancorp increased its stake in shares of Bunge Global by 20,301.4% in the third quarter. Fifth Third Bancorp now owns 995,794 shares of the basic materials company’s stock worth $104,469,000 after buying an additional 990,913 shares during the period. Three Bridge Wealth Advisors LLC purchased a new position in shares of Bunge Global in the third quarter worth $1,981,000. Maryland State Retirement & Pension System raised its holdings in Bunge Global by 1,547.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 115,074 shares of the basic materials company’s stock valued at $12,088,000 after buying an additional 108,091 shares during the last quarter. Finally, Advisor Resource Council raised its holdings in Bunge Global by 36.6% during the 3rd quarter. Advisor Resource Council now owns 5,344 shares of the basic materials company’s stock valued at $574,000 after buying an additional 1,432 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BG shares. UBS Group increased 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. Zacks Research cut shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. Weiss Ratings cut shares of Bunge Global from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently 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. The stock has a market cap of $19.21 billion, a P/E ratio of 16.80 and a beta of 0.70. Bunge Global SA has a fifty-two week low of $88.24 and a fifty-two week high of $134.87. The stock has a 50 day simple moving average of $107.61 and a two-hundred day simple moving average of $116.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50.

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

About Bunge Global

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.