Sax Wealth Advisors LLC Purchases New Position in Bunge Global SA (NYSE:BG)

Sax Wealth Advisors LLC acquired a new stake in shares of Bunge Global SA (NYSE:BG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,311 shares of the basic materials company’s stock, valued at approximately $460,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NewSquare Capital LLC purchased a new stake in Bunge Global in the 4th quarter valued at about $37,000. Riverview Trust Co acquired a new stake in shares of Bunge Global in the 1st quarter worth $46,000. Versant Capital Management Inc purchased a new stake in shares of Bunge Global during the second quarter worth about $48,000. GAMMA Investing LLC acquired a new stake in Bunge Global in the 4th quarter worth approximately $62,000. Finally, Rise Advisors LLC grew its position in Bunge Global by 56.8% during the 1st quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 230 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their price objective 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.00.

Insider Buying and Selling

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the sale, the insider now owns 87,999 shares in the company, valued at approximately $9,086,776.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Bunge Global Trading Down 0.5 %

NYSE BG traded down $0.51 on Friday, reaching $96.88. 1,576,278 shares of the company were exchanged, compared to its average volume of 1,549,879. The business’s fifty day moving average price is $106.79 and its 200 day moving average price is $101.53. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $13.72 billion, a P/E ratio of 7.80 and a beta of 0.67. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $115.84.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.72 EPS. Analysts forecast that Bunge Global SA will post 9.4 earnings per share for the current year.

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.