61,086 Shares in Bunge Global SA (NYSE:BG) Bought by Summit Global Investments

Summit Global Investments bought a new position in shares of Bunge Global SA (NYSE:BG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,086 shares of the basic materials company’s stock, valued at approximately $4,750,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in Bunge Global by 7.6% in the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after acquiring an additional 500,897 shares during the last quarter. Geode Capital Management LLC lifted its position in Bunge Global by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock valued at $329,697,000 after acquiring an additional 45,159 shares during the last quarter. Pacer Advisors Inc. lifted its position in Bunge Global by 13,459.9% in the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock valued at $229,894,000 after acquiring an additional 2,934,656 shares during the last quarter. Amundi lifted its position in Bunge Global by 24.9% in the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock valued at $190,476,000 after acquiring an additional 490,153 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Bunge Global by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,502,083 shares of the basic materials company’s stock valued at $116,802,000 after acquiring an additional 57,462 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Down 0.9 %

Shares of Bunge Global stock opened at $73.29 on Friday. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $74.44 and its 200-day simple moving average is $83.92. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. As a group, equities research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BG. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Stephens reduced their target price on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Morgan Stanley reduced their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Finally, Barclays reduced their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

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.