Alliancebernstein L.P. Buys 3,427 Shares of Bunge Global SA $BG

Alliancebernstein L.P. lifted its stake in Bunge Global SA (NYSE:BG) by 1.7% during the 1st quarter, Holdings Channel reports. The firm owned 205,557 shares of the basic materials company’s stock after acquiring an additional 3,427 shares during the period. Alliancebernstein L.P.’s holdings in Bunge Global were worth $15,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. boosted its position in shares of Bunge Global by 12.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 135 shares during the last quarter. Allworth Financial LP boosted its position in shares of Bunge Global by 18.4% in the 1st quarter. Allworth Financial LP now owns 940 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 146 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Bunge Global by 0.9% during the 1st quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company’s stock worth $1,321,000 after buying an additional 149 shares during the period. Moors & Cabot Inc. raised its stake in Bunge Global by 2.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company’s stock worth $588,000 after buying an additional 158 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Bunge Global by 24.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company’s stock worth $76,000 after buying an additional 199 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

BG has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on Bunge Global in a research note on Wednesday, August 20th. They set an “overweight” rating and a $95.00 price objective on the stock. Morgan Stanley raised their price objective on Bunge Global from $74.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and a consensus target price of $85.33.

Bunge Global Stock Performance

BG opened at $81.95 on Friday. The business’s 50-day moving average price is $80.17 and its two-hundred day moving average price is $78.42. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $100.48. The company has a market capitalization of $16.39 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 6.15 and a beta of 0.67. 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 (NYSE:BG) last released its quarterly 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. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Equities analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal 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.