Spire Wealth Management Sells 144 Shares of Bunge Global SA (NYSE:BG)

Spire Wealth Management cut its position in shares of Bunge Global SA (NYSE:BGFree Report) by 27.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 372 shares of the basic materials company’s stock after selling 144 shares during the quarter. Spire Wealth Management’s holdings in Bunge Global were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Amalgamated Bank grew its holdings in shares of Bunge Global by 4.7% during the third quarter. Amalgamated Bank now owns 37,847 shares of the basic materials company’s stock worth $4,097,000 after buying an additional 1,701 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Bunge Global during the third quarter worth about $874,000. Western Wealth Management LLC grew its holdings in shares of Bunge Global by 3.3% during the third quarter. Western Wealth Management LLC now owns 5,710 shares of the basic materials company’s stock worth $618,000 after buying an additional 180 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of Bunge Global by 30.0% during the third quarter. New York Life Investment Management LLC now owns 40,930 shares of the basic materials company’s stock worth $4,431,000 after buying an additional 9,434 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in Bunge Global in the third quarter valued at approximately $823,000. 84.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BG has been the subject of a number of analyst reports. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and decreased their price target for the company from $122.00 to $105.00 in a research note on Friday. The Goldman Sachs Group decreased their price target on Bunge Global from $160.00 to $141.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Robert W. Baird decreased their price target on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Roth Mkm decreased their price target on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Barclays decreased their price target on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.11.

Read Our Latest Stock Analysis on BG

Bunge Global Stock Performance

BG opened at $90.64 on Tuesday. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of 6.09 and a beta of 0.62. The business has a 50 day moving average of $96.86 and a 200-day moving average of $104.67. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BGGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.89. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.24 EPS. On average, equities research analysts expect that Bunge Global SA will post 9.21 earnings per share for the current year.

Bunge Global Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bunge Global (NYSE:BG)

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