Alliancebernstein L.P. Increases Holdings in Bunge Global SA (NYSE:BG)

Alliancebernstein L.P. boosted its position in Bunge Global SA (NYSE:BG) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,130 shares of the basic materials company’s stock after buying an additional 8,847 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Bunge Global worth $15,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of Bunge Global by 13,459.9% in 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 buying an additional 2,934,656 shares during the period. Norges Bank acquired a new position in Bunge Global in the fourth quarter valued at approximately $148,857,000. Amundi boosted its position in Bunge Global by 24.9% in the 4th quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock worth $190,476,000 after purchasing an additional 490,153 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Bunge Global by 173.5% during the 4th quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company’s stock worth $23,537,000 after purchasing an additional 191,999 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Bunge Global by 267.4% during the 4th quarter. Intech Investment Management LLC now owns 184,460 shares of the basic materials company’s stock worth $14,344,000 after purchasing an additional 134,249 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BG. Barclays lowered 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 report on Thursday, February 6th. Morgan Stanley dropped their target price on 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. 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 report on Tuesday, February 11th. Finally, Stephens cut their price objective 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Bunge Global Trading Down 3.3 %

Shares of Bunge Global stock opened at $69.45 on Wednesday. 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 SA has a twelve month low of $67.40 and a twelve month high of $114.92. The firm has a market capitalization of $9.30 billion, a PE ratio of 8.59, a P/E/G ratio of 2.66 and a beta of 0.59. The firm’s 50-day moving average price is $73.22 and its 200 day moving average price is $81.67.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) 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%. On average, sell-side analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal 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.