Federated Hermes Inc. Increases Stock Position in Bunge Global SA (NYSE:BG)

Federated Hermes Inc. raised its position in shares of Bunge Global SA (NYSE:BG) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,624 shares of the basic materials company’s stock after buying an additional 2,967 shares during the quarter. Federated Hermes Inc.’s holdings in Bunge Global were worth $4,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its position in shares of Bunge Global by 169.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 146 shares during the last quarter. Rise Advisors LLC raised its position in shares of Bunge Global by 40.6% in the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 117 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of Bunge Global in the 3rd quarter worth about $54,000. Harvest Fund Management Co. Ltd raised its position in shares of Bunge Global by 24.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 584 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 115 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Bunge Global in the 3rd quarter worth about $69,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

BG has been the subject of several recent analyst reports. Roth Mkm lowered their price target on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, February 5th. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Citigroup boosted their target price on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday. Wolfe Research lowered Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Bunge Global Trading Down 1.3 %

Bunge Global stock opened at $102.69 on Friday. The business has a 50-day simple moving average of $99.50 and a two-hundred day simple moving average of $99.99. The company has a market cap of $14.48 billion, a P/E ratio of 8.27 and a beta of 0.64. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $116.59. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. The business had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.26 EPS. Analysts predict that Bunge Global SA will post 9 EPS for the current year.

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.