Mackenzie Financial Corp Reduces Holdings in Bunge Global SA (NYSE:BG)

Mackenzie Financial Corp decreased its position in shares of Bunge Global SA (NYSE:BG) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,645 shares of the basic materials company’s stock after selling 203 shares during the period. Mackenzie Financial Corp’s holdings in Bunge Global were worth $1,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BG. CWM LLC increased its stake in Bunge Global by 48.8% during the 3rd quarter. CWM LLC now owns 2,472 shares of the basic materials company’s stock worth $268,000 after buying an additional 811 shares during the period. SG Americas Securities LLC increased its stake in Bunge Global by 12.3% during the 3rd quarter. SG Americas Securities LLC now owns 9,979 shares of the basic materials company’s stock worth $1,080,000 after buying an additional 1,094 shares during the period. RFG Advisory LLC bought a new stake in shares of Bunge Global in the 3rd quarter worth about $242,000. Exchange Traded Concepts LLC increased its position in shares of Bunge Global by 34.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,188 shares of the basic materials company’s stock worth $562,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA increased its position in shares of Bunge Global by 3.2% in the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 27,637 shares of the basic materials company’s stock worth $2,992,000 after purchasing an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

BG has been the subject of several research analyst reports. Roth Mkm dropped their target price on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Barclays dropped their target price on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, January 23rd. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their price target for the company from $122.00 to $105.00 in a report on Friday, February 9th. Citigroup lifted their price target on shares of Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and an average target price of $120.44.

Bunge Global Trading Down 3.5 %

Bunge Global stock opened at $105.77 on Thursday. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $99.02 and a two-hundred day moving average price of $99.98. The firm has a market capitalization of $14.91 billion, a price-to-earnings ratio of 7.10 and a beta of 0.64. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $116.59.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.89. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.24 EPS. Sell-side analysts expect that Bunge Global SA will post 9.26 earnings per share for the current 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.