Waterfront Wealth Inc. Increases Stock Holdings in Bunge Global SA $BG

Waterfront Wealth Inc. lifted its stake in shares of Bunge Global SA (NYSE:BG) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,718 shares of the basic materials company’s stock after buying an additional 601 shares during the period. Waterfront Wealth Inc.’s holdings in Bunge Global were worth $1,503,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Callan Family Office LLC purchased a new position in shares of Bunge Global during the second quarter valued at approximately $705,000. Centennial Wealth Advisory LLC purchased a new position in Bunge Global in the second quarter worth $449,000. Inspire Investing LLC boosted its position in Bunge Global by 79.0% in the second quarter. Inspire Investing LLC now owns 7,355 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 3,246 shares during the last quarter. Nordea Investment Management AB boosted its position in Bunge Global by 2.2% in the second quarter. Nordea Investment Management AB now owns 15,657 shares of the basic materials company’s stock worth $1,272,000 after purchasing an additional 342 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Bunge Global in the second quarter worth $29,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG opened at $96.45 on Wednesday. The firm has a market cap of $19.30 billion, a PE ratio of 9.64, a PEG ratio of 8.37 and a beta of 0.66. The stock’s fifty day moving average price is $85.14 and its two-hundred day moving average price is $81.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $99.55.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.12. The firm had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. On average, equities research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Insider Activity

In other news, Director Christopher Mahoney bought 5,000 shares of the stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the purchase, the director directly owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

BG has been the topic of several research analyst reports. Stephens boosted their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Morgan Stanley set a $95.00 price objective on Bunge Global in a research report on Monday. Barclays boosted their price objective on Bunge Global from $85.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on Bunge Global from $95.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Bunge Global currently has a consensus rating of “Hold” and a consensus price target of $99.43.

Bunge Global 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.