Bank of New York Mellon Corp Has $89.18 Million Stock Position in Bunge Global SA (NYSE:BG)

Bank of New York Mellon Corp reduced its position in shares of Bunge Global SA (NYSE:BG) by 25.8% in the 2nd quarter, Holdings Channel reports. The firm owned 835,249 shares of the basic materials company’s stock after selling 290,437 shares during the period. Bank of New York Mellon Corp’s holdings in Bunge Global were worth $89,180,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BG. SteelPeak Wealth LLC acquired a new stake in Bunge Global in the first quarter valued at $2,137,000. Avantax Advisory Services Inc. bought a new stake in Bunge Global during the first quarter valued at $899,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Bunge Global by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,642 shares of the basic materials company’s stock valued at $20,319,000 after acquiring an additional 10,891 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its position in Bunge Global by 2,975.7% during the first quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock valued at $8,249,000 after acquiring an additional 77,844 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Bunge Global by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock valued at $4,247,000 after acquiring an additional 6,281 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Up 0.5 %

Shares of NYSE:BG opened at $100.82 on Thursday. Bunge Global SA has a one year low of $86.10 and a one year high of $115.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 1.10. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 8.12 and a beta of 0.67. The firm has a fifty day moving average price of $104.94 and a two-hundred day moving average price of $102.30.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the previous year, the business earned $3.72 EPS. Bunge Global’s revenue for the quarter was down 12.0% compared to the same quarter last year. Analysts anticipate that Bunge Global SA will post 9.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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