Wed Sep 25 09:51:57 UTC 2024: ## Xponance Inc. Increases Stake in Bunge Global, Other Investors Follow Suit
**New York, NY – September 25, 2024** – Xponance Inc. has increased its stake in Bunge Global SA (NYSE: BG) by 39% during the second quarter, according to the company’s latest SEC filing. The investment fund now owns 43,140 shares of the basic materials company, worth $4,606,000.
This move follows a trend of increased investment in Bunge Global by several other institutional investors. Mather Group LLC, RFG Advisory LLC, Blue Trust Inc., CWM LLC, and Ballentine Partners LLC all boosted their stakes in the company during the first and second quarters of 2024.
Despite these positive signs, Citigroup downgraded Bunge Global from “buy” to “neutral” and lowered their price target from $125.00 to $114.00 on August 1st.
Bunge Global reported a quarterly earnings miss on July 31st, with earnings per share of $1.73 falling short of the $1.79 consensus estimate. Revenue also came in below expectations at $13.24 billion compared to the anticipated $14.30 billion.
Despite the earnings miss, Bunge Global’s stock opened at $97.12 on Wednesday, demonstrating some investor confidence. Analysts predict the company will post 9.3 EPS for the current year.
Bunge Global, an agribusiness and food company operating worldwide, is involved in various segments including agricultural commodities, refined oils, milling, and sugar and bioenergy.
Overall, the recent increase in institutional investment in Bunge Global suggests a belief in the company’s future prospects. However, the recent earnings miss and downgraded rating from Citigroup highlight the challenges Bunge Global faces in the current market.
First Piper 