MidWestOne Financial Group Inc. Cuts Stock Position in Bunge Global SA (NYSE:BG)

MidWestOne Financial Group Inc. decreased its position in shares of Bunge Global SA (NYSE:BG) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,774 shares of the basic materials company’s stock after selling 804 shares during the period. MidWestOne Financial Group Inc.’s holdings in Bunge Global were worth $2,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after buying an additional 883,127 shares during the last quarter. Millennium Management LLC grew its stake in shares of Bunge Global by 12,617.1% during the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after acquiring an additional 878,653 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bunge Global by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock valued at $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. LSV Asset Management raised its position in shares of Bunge Global by 33.4% in the 1st quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock valued at $195,743,000 after purchasing an additional 478,559 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Bunge Global in the 1st quarter worth approximately $26,817,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of 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 assigned a buy rating to the company. According to data from MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Trading Up 1.9 %

Shares of NYSE:BG opened at $97.71 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $114.92. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 7.87 and a beta of 0.65. The business has a 50-day moving average price of $100.11 and a 200-day moving average price of $103.15.

Bunge Global (NYSE:BG) last posted its quarterly earnings results 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). The business had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.72 earnings per share. Equities analysts predict that Bunge Global SA will post 9.3 EPS for the current year.

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.