Spire Wealth Management Makes New $26,000 Investment in Bunge Global SA (NYSE:BG)

Spire Wealth Management acquired a new position in shares of Bunge Global SA (NYSE:BG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 334 shares of the basic materials company’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BG. State Street Corp lifted its holdings in shares of Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after buying an additional 500,897 shares during the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 45,159 shares during the period. Pacer Advisors Inc. raised its stake in Bunge Global by 13,459.9% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Bunge Global by 3.6% in the 3rd 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 purchasing an additional 50,615 shares during the period. Finally, abrdn plc grew its position in Bunge Global by 2.0% in the 3rd quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock worth $58,990,000 after purchasing an additional 11,808 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of NYSE:BG opened at $69.10 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The stock has a market capitalization of $9.65 billion, a P/E ratio of 8.55 and a beta of 0.69. The business has a 50-day moving average price of $78.94 and a two-hundred day moving average price of $89.25.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 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%. Equities analysts predict that Bunge Global SA will post 7.75 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on BG shares. Stephens reduced their target price on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Barclays reduced their price objective 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 research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.50.

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.