Bunge Global SA (NYSE:BG) Stock Position Lifted by Covestor Ltd

Covestor Ltd boosted its stake in Bunge Global SA (NYSE:BG) by 39.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,335 shares of the basic materials company’s stock after buying an additional 659 shares during the quarter. Covestor Ltd’s holdings in Bunge Global were worth $182,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Spire Wealth Management acquired a new stake in Bunge Global in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bunge Global in the 3rd quarter valued at $34,000. Crews Bank & Trust bought a new stake in Bunge Global in the fourth quarter worth $39,000. R Squared Ltd acquired a new position in Bunge Global during the fourth quarter worth $45,000. Finally, Financial Perspectives Inc raised its holdings in Bunge Global by 585.0% during the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after buying an additional 585 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BG shares. Morgan Stanley cut their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. 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 report on Tuesday, February 11th. Stephens lowered their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Barclays cut 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 research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Bunge Global Price Performance

Shares of Bunge Global stock opened at $73.19 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The company has a market cap of $9.81 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. The firm has a fifty day moving average price of $73.08 and a two-hundred day moving average price of $81.30. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share 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%. Analysts expect that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Company 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.