Amundi Boosts Holdings in Bunge Global SA (NYSE:BG)

Amundi boosted its holdings in Bunge Global SA (NYSE:BG) by 24.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,457,864 shares of the basic materials company’s stock after purchasing an additional 490,153 shares during the period. Amundi’s holdings in Bunge Global were worth $190,476,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BG. Farther Finance Advisors LLC lifted its stake in shares of Bunge Global by 40.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 124 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Bunge Global by 7.8% in the third quarter. QRG Capital Management Inc. now owns 5,565 shares of the basic materials company’s stock valued at $538,000 after acquiring an additional 404 shares during the period. Old West Investment Management LLC increased its position in shares of Bunge Global by 6.7% in the third quarter. Old West Investment Management LLC now owns 120,043 shares of the basic materials company’s stock valued at $11,601,000 after acquiring an additional 7,489 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Bunge Global by 2.7% during the third quarter. Principal Financial Group Inc. now owns 177,218 shares of the basic materials company’s stock worth $17,126,000 after purchasing an additional 4,733 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Bunge Global by 96.0% during the third quarter. Verdence Capital Advisors LLC now owns 5,581 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,733 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

Shares of BG opened at $75.68 on Monday. 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 stock has a market cap of $10.14 billion, a P/E ratio of 9.37, a P/E/G ratio of 2.66 and a beta of 0.67. The business’s 50 day moving average price is $75.16 and its 200-day moving average price is $85.51. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92.

Bunge Global (NYSE:BG) last issued its earnings results 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 return on equity of 11.73% and a net margin of 2.14%. Equities research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

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