Allstate Corp Makes New $324,000 Investment in Bunge Global SA (NYSE:BG)

Allstate Corp acquired a new stake in Bunge Global SA (NYSE:BG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,161 shares of the basic materials company’s stock, valued at approximately $324,000.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management acquired a new position in shares of Bunge Global during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bunge Global in the third quarter valued at $34,000. Crews Bank & Trust bought a new position in shares of Bunge Global in the fourth quarter valued at about $39,000. R Squared Ltd acquired a new stake in shares of Bunge Global during the 4th quarter worth about $45,000. Finally, Financial Perspectives Inc boosted its holdings in shares of Bunge Global by 585.0% during the 4th quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock worth $53,000 after buying an additional 585 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on BG shares. Morgan Stanley cut their price objective 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. Bank of America reduced their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Stephens lowered their price objective on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on 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 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Bunge Global Trading Up 0.1 %

Shares of NYSE:BG opened at $77.92 on Thursday. The business’s 50 day simple moving average is $73.78 and its 200 day simple moving average is $82.58. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. 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 capitalization of $10.44 billion, a P/E ratio of 9.64, a P/E/G ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG) last released 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%. On average, research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global 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.