Bunge Global SA (NYSE:BG) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its stake in shares of Bunge Global SA (NYSE:BG) by 13.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 54,865 shares of the basic materials company’s stock after acquiring an additional 6,642 shares during the period. Cibc World Markets Corp’s holdings in Bunge Global were worth $4,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BG. Pacer Advisors Inc. raised its stake in shares of Bunge Global by 13,459.9% during 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 in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Bunge Global during the third quarter valued at about $54,330,000. State Street Corp raised its stake 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 valued at $681,467,000 after purchasing an additional 500,897 shares in the last quarter. Amundi raised its stake in shares of Bunge Global by 24.9% during the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock valued at $190,476,000 after purchasing an additional 490,153 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Bunge Global by 173.5% during the fourth quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company’s stock valued at $23,537,000 after purchasing an additional 191,999 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America cut their price objective 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 dropped their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Morgan Stanley dropped their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Finally, Barclays dropped 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. Three investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Bunge Global Trading Up 0.7 %

Shares of BG opened at $75.22 on Thursday. The business’s 50-day moving average price is $74.67 and its 200 day moving average price is $84.19. The stock has a market capitalization of $10.08 billion, a P/E ratio of 9.31, a P/E/G ratio of 2.66 and a beta of 0.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last issued its quarterly 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 earnings per share for the current year.

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.