BayBridge Capital Group LLC Invests $1.06 Million in Bunge Global SA (NYSE:BG)

BayBridge Capital Group LLC purchased a new position in Bunge Global SA (NYSE:BG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,968 shares of the basic materials company's stock, valued at approximately $1,060,000.

A number of other hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in shares of Bunge Global by 26.5% in the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company's stock worth $449,614,000 after purchasing an additional 883,127 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Bunge Global by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company's stock valued at $243,664,000 after acquiring an additional 121,080 shares in the last quarter. LSV Asset Management raised its position in Bunge Global by 10.7% during the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company's stock valued at $225,629,000 after acquiring an additional 203,910 shares in the last quarter. AQR Capital Management LLC raised its position in 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 in the last quarter. Finally, Millennium Management LLC raised its position in 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 valued at $94,557,000 after acquiring an additional 878,653 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Citigroup lowered shares of Bunge Global from a "buy" rating to a "neutral" rating and cut their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $118.00.

Bunge Global Stock Performance

Shares of NYSE:BG traded down $0.43 during trading on Friday, reaching $89.78. The stock had a trading volume of 1,479,758 shares, compared to its average volume of 1,492,897. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $114.92. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 7.23 and a beta of 0.64. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $96.72 and a two-hundred day simple moving average of $102.32.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly 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 net margin of 2.33% and a return on equity of 14.84%. The firm 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 business earned $3.72 EPS. The company's revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, analysts anticipate that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

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.