Aaron Wealth Advisors LLC Buys New Stake in Bunge Global SA (NYSE:BG)

Aaron Wealth Advisors LLC purchased a new position in Bunge Global SA (NYSE:BG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,898 shares of the basic materials company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BG. Pacer Advisors Inc. grew its stake in shares of Bunge Global by 26.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after purchasing an additional 883,127 shares during the period. Millennium Management LLC grew its position in Bunge Global by 12,617.1% in the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock valued at $94,557,000 after acquiring an additional 878,653 shares during the period. LSV Asset Management raised its stake in Bunge Global by 33.4% during the first quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock worth $195,743,000 after acquiring an additional 478,559 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Bunge Global during the first quarter worth $26,817,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Bunge Global by 23.4% during the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock valued at $103,576,000 after acquiring an additional 184,245 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

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

Bunge Global Stock Performance

Shares of NYSE:BG opened at $89.55 on Friday. The business has a fifty day moving average of $97.41 and a 200-day moving average of $102.90. The firm has a market cap of $12.68 billion, a PE ratio of 7.21 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $114.92.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share 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 company had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the prior year, the firm posted $3.72 earnings per share. The company’s revenue was down 12.0% on a year-over-year basis. On average, equities research analysts predict that Bunge Global SA will post 9.3 EPS for the current fiscal 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.