Parkside Investments LLC Has $4.34 Million Stake in Bunge Global SA (NYSE:BG)

Parkside Investments LLC cut its holdings in shares of Bunge Global SA (NYSE:BG) by 24.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,655 shares of the basic materials company’s stock after selling 12,996 shares during the period. Parkside Investments LLC’s holdings in Bunge Global were worth $4,341,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BG. SteelPeak Wealth LLC bought a new position in shares of Bunge Global during the 1st quarter valued at $2,137,000. Avantax Advisory Services Inc. purchased a new stake in shares of Bunge Global in the first quarter worth $899,000. Cutter & CO Brokerage Inc. increased its stake in shares of Bunge Global by 1.8% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 9,305 shares of the basic materials company’s stock worth $939,000 after purchasing an additional 165 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of 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 worth $20,319,000 after acquiring an additional 10,891 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its position in shares of 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 worth $8,249,000 after acquiring an additional 77,844 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Bunge Global Stock Up 1.8 %

Shares of BG stock traded up $1.71 during trading hours on Thursday, reaching $97.40. 1,556,248 shares of the stock were exchanged, compared to its average volume of 1,549,706. The firm has a market capitalization of $13.79 billion, a P/E ratio of 7.84 and a beta of 0.67. Bunge Global SA has a 12-month low of $86.10 and a 12-month 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 business’s fifty day moving average is $107.01 and its two-hundred day moving average is $101.39.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the business earned $3.72 earnings per share. Bunge Global’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts expect that Bunge Global SA will post 9.4 EPS for the current fiscal year.

Insider Activity

In other news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total value of $2,065,200.00. Following the completion of the sale, the insider now directly owns 87,999 shares in the company, valued at approximately $9,086,776.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Bunge Global 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.