Sumitomo Mitsui Trust Holdings Inc. Increases Stock Position in Bunge Global SA (NYSE:BG)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Bunge Global SA (NYSE:BG) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 449,561 shares of the basic materials company’s stock after purchasing an additional 39,132 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.32% of Bunge Global worth $48,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. lifted its position in Bunge Global by 12.4% during the second quarter. Mather Group LLC. now owns 843 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 93 shares during the period. RFG Advisory LLC lifted its holdings in shares of Bunge Global by 3.9% during the 1st quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company’s stock valued at $265,000 after buying an additional 96 shares during the period. Blue Trust Inc. boosted its stake in shares of Bunge Global by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after buying an additional 102 shares during the last quarter. CWM LLC grew its holdings in shares of Bunge Global by 4.1% in the first quarter. CWM LLC now owns 2,778 shares of the basic materials company’s stock worth $285,000 after acquiring an additional 110 shares during the period. Finally, Czech National Bank increased its position in Bunge Global by 0.5% during the first quarter. Czech National Bank now owns 25,563 shares of the basic materials company’s stock valued at $2,621,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

NYSE:BG opened at $96.51 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 2.03. The stock has a 50-day simple moving average of $105.87 and a two-hundred day simple moving average of $101.88. The firm has a market capitalization of $13.67 billion, a PE ratio of 7.77 and a beta of 0.67. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $115.84.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the firm posted $3.72 earnings per share. The company’s revenue was down 12.0% compared to the same quarter last year. Analysts forecast that Bunge Global SA will post 9.4 EPS for the current year.

Insider Transactions at Bunge Global

In related news, insider Christos Dimopoulos sold 20,000 shares of Bunge Global stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares in the company, valued at approximately $9,086,776.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $114.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Bunge Global Company 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.