Y Intercept Hong Kong Ltd Buys New Stake in Bunge Global SA (NYSE:BG)

Y Intercept Hong Kong Ltd purchased a new position in shares of Bunge Global SA (NYSE:BG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,445 shares of the basic materials company’s stock, valued at approximately $2,601,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Bunge Global by 7.6% during the 3rd 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 period. Geode Capital Management LLC boosted its position in Bunge Global by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock worth $329,697,000 after purchasing an additional 45,159 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 purchasing an additional 2,934,656 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Bunge Global by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock valued at $139,608,000 after buying an additional 50,615 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Bunge Global by 2.0% during the 3rd quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock worth $58,990,000 after buying an additional 11,808 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Price Performance

Bunge Global stock opened at $73.59 on Tuesday. The company has a fifty day simple moving average of $76.16 and a 200-day simple moving average of $86.96. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.66 and a beta of 0.69. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92.

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

Analyst Ratings Changes

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

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.