Truist Financial Corp raised its position in Bunge Limited (NYSE:BG – Free Report) by 18.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 92,699 shares of the basic materials company’s stock after purchasing an additional 14,760 shares during the period. Truist Financial Corp owned 0.06% of Bunge worth $8,855,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp acquired a new position in shares of Bunge during the 1st quarter valued at about $2,983,000. New Mexico Educational Retirement Board acquired a new position in shares of Bunge during the 1st quarter valued at about $659,000. Barclays PLC boosted its position in shares of Bunge by 23.3% during the 1st quarter. Barclays PLC now owns 156,849 shares of the basic materials company’s stock valued at $14,982,000 after acquiring an additional 29,602 shares during the last quarter. LSV Asset Management boosted its position in shares of Bunge by 7.7% during the 1st quarter. LSV Asset Management now owns 774,600 shares of the basic materials company’s stock valued at $73,990,000 after acquiring an additional 55,700 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Bunge by 236.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 639 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 84.60% of the company’s stock.
Wall Street Analyst Weigh In
BG has been the topic of several recent research reports. Barclays boosted their price target on shares of Bunge from $121.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. StockNews.com initiated coverage on shares of Bunge in a report on Thursday, May 18th. They issued a “hold” rating on the stock. 51job restated an “initiates” rating on shares of Bunge in a report on Thursday, June 22nd. Robert W. Baird reduced their price objective on shares of Bunge from $115.00 to $110.00 in a report on Wednesday, June 14th. Finally, Roth Mkm started coverage on shares of Bunge in a report on Thursday, June 22nd. They issued a “buy” rating and a $138.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $128.13.
Bunge Stock Performance
Shares of BG opened at $112.14 on Friday. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 8.67 and a beta of 0.67. Bunge Limited has a 52-week low of $80.41 and a 52-week high of $116.59. The stock has a 50 day moving average price of $100.22 and a 200 day moving average price of $96.83. The company has a quick ratio of 1.01, a current ratio of 2.07 and a debt-to-equity ratio of 0.38.
Bunge (NYSE:BG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $2.69 by $1.03. The business had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.35 billion. Bunge had a return on equity of 20.12% and a net margin of 3.09%. The company’s revenue was down 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 earnings per share. Research analysts predict that Bunge Limited will post 12.22 EPS for the current fiscal year.
About Bunge
Bunge Limited 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.
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