CIBC Asset Management Inc Has $1.92 Million Holdings in Bunge Global SA (NYSE:BG)

CIBC Asset Management Inc raised its stake in shares of Bunge Global SA (NYSE:BG) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 24,641 shares of the basic materials company’s stock after purchasing an additional 354 shares during the period. CIBC Asset Management Inc’s holdings in Bunge Global were worth $1,916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after buying an additional 124 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Bunge Global by 0.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company’s stock worth $2,305,000 after acquiring an additional 144 shares during the last quarter. Caprock Group LLC grew its stake in shares of Bunge Global by 2.2% in the 3rd quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after acquiring an additional 164 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 166 shares during the last quarter. Finally, Patton Albertson Miller Group LLC lifted its position in shares of Bunge Global by 0.3% during the third quarter. Patton Albertson Miller Group LLC now owns 56,444 shares of the basic materials company’s stock valued at $5,455,000 after purchasing an additional 188 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

BG has been the subject of several analyst reports. Barclays decreased 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 research note on Thursday, February 6th. Stephens dropped their price target on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Bank of America reduced their price objective 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. Finally, Morgan Stanley lowered their target price on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Bunge Global Stock Performance

NYSE:BG opened at $73.12 on Friday. The company has a market capitalization of $10.21 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.56 and a beta of 0.69. The business has a fifty day simple moving average of $76.30 and a two-hundred day simple moving average of $87.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share 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, analysts expect that Bunge Global SA will post 7.94 earnings per share for the current 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.