Simplicity Wealth LLC Sells 1,976 Shares of Bunge Global SA (NYSE:BG)

Simplicity Wealth LLC cut its holdings in shares of Bunge Global SA (NYSE:BG) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,438 shares of the basic materials company’s stock after selling 1,976 shares during the quarter. Simplicity Wealth LLC’s holdings in Bunge Global were worth $4,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BG. Vanguard Group Inc. increased its stake in Bunge Global by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after acquiring an additional 578,065 shares during the period. Dimensional Fund Advisors LP raised its stake in Bunge Global by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,138,378 shares of the basic materials company’s stock valued at $215,879,000 after purchasing an additional 42,592 shares in the last quarter. LSV Asset Management grew 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 buying an additional 478,559 shares in the last quarter. Norges Bank bought a new position in Bunge Global in the 4th quarter valued at about $128,092,000. Finally, Acadian Asset Management LLC increased its holdings in Bunge Global by 4.0% in the 1st quarter. Acadian Asset Management LLC now owns 702,095 shares of the basic materials company’s stock valued at $71,965,000 after buying an additional 27,235 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $114.00 in a research report 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Insider Transactions at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 87,999 shares of the company’s stock, valued at approximately $9,086,776.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Bunge Global Price Performance

BG stock traded up $1.71 during trading on Thursday, reaching $97.40. 1,556,248 shares of the company were exchanged, compared to its average volume of 1,549,706. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 7.84 and a beta of 0.67. 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 50-day moving average of $107.16 and a two-hundred day moving average of $101.42. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $115.84.

Bunge Global (NYSE:BG) last posted 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 for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm posted $3.72 EPS. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. As a group, equities analysts predict that Bunge Global SA will post 9.4 earnings per share 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.