abrdn plc Purchases 11,808 Shares of Bunge Global SA (NYSE:BG)

abrdn plc increased its stake in Bunge Global SA (NYSE:BG - Free Report) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 608,837 shares of the basic materials company's stock after purchasing an additional 11,808 shares during the period. abrdn plc owned approximately 0.43% of Bunge Global worth $58,990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BG. NorthCrest Asset Manangement LLC boosted its position in Bunge Global by 0.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company's stock worth $2,305,000 after acquiring an additional 144 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Bunge Global by 23.5% in the third quarter. Forsta AP Fonden now owns 95,500 shares of the basic materials company's stock worth $9,229,000 after purchasing an additional 18,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bunge Global by 24.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,915 shares of the basic materials company's stock worth $1,458,000 after purchasing an additional 2,926 shares during the last quarter. BayBridge Capital Group LLC bought a new position in Bunge Global in the third quarter valued at $1,060,000. Finally, Mediolanum International Funds Ltd increased its stake in Bunge Global by 212.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 65,843 shares of the basic materials company's stock valued at $6,424,000 after buying an additional 44,742 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

Shares of BG stock traded down $1.98 on Wednesday, reaching $85.86. The stock had a trading volume of 3,392,893 shares, compared to its average volume of 1,509,008. Bunge Global SA has a 12 month low of $85.08 and a 12 month high of $114.92. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 6.91 and a beta of 0.64. The firm's 50-day moving average is $96.23 and its two-hundred day moving average is $101.95. 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 (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the company earned $3.72 EPS. Bunge Global's quarterly revenue was down 12.0% on a year-over-year basis. On average, research analysts expect that Bunge Global SA will post 9.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Bunge Global from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $125.00 to $114.00 in a research note 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. Based on data from MarketBeat, Bunge Global has a consensus rating of "Moderate Buy" and a consensus target price of $118.00.

About Bunge Global

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.