Intech Investment Management LLC Cuts Stock Position in Bunge Global SA $BG

Intech Investment Management LLC decreased its holdings in shares of Bunge Global SA (NYSE:BG) by 26.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,694 shares of the basic materials company’s stock after selling 11,327 shares during the period. Intech Investment Management LLC’s holdings in Bunge Global were worth $2,544,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Bunge Global by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock worth $282,683,000 after buying an additional 80,082 shares during the period. Dimensional Fund Advisors LP lifted its position in Bunge Global by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock worth $255,756,000 after acquiring an additional 859,733 shares in the last quarter. Invesco Ltd. lifted its position in Bunge Global by 3.8% during the 1st quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company’s stock worth $254,446,000 after acquiring an additional 122,931 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Bunge Global by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,603,669 shares of the basic materials company’s stock worth $122,552,000 after acquiring an additional 101,586 shares during the period. Finally, AQR Capital Management LLC grew its position in Bunge Global by 80.5% in the first quarter. AQR Capital Management LLC now owns 995,507 shares of the basic materials company’s stock valued at $76,077,000 after acquiring an additional 443,893 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Trading Down 3.2%

NYSE BG opened at $93.04 on Thursday. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76. 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 12 month low of $67.40 and a 12 month high of $99.55. The company’s fifty day moving average price is $88.72 and its two-hundred day moving average price is $83.00.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The company’s revenue was up 71.6% on a year-over-year basis. As a group, research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BG has been the topic of a number of recent research reports. Morgan Stanley set a $95.00 target price on shares of Bunge Global in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Stephens raised their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, CICC Research lifted their target price on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

About Bunge Global

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.