Martingale Asset Management L P Increases Holdings in Bunge Global SA (NYSE:BG)

Martingale Asset Management L P boosted its holdings in shares of Bunge Global SA (NYSE:BG) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 48,849 shares of the basic materials company’s stock after acquiring an additional 470 shares during the quarter. Martingale Asset Management L P’s holdings in Bunge Global were worth $3,798,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Bunge Global by 13,459.9% during 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 acquiring an additional 2,934,656 shares in the last quarter. Norges Bank bought a new stake in shares of Bunge Global in the 4th quarter worth approximately $148,857,000. Invesco Ltd. boosted its position in shares of Bunge Global by 28.6% in the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after purchasing an additional 713,561 shares in the last quarter. FMR LLC boosted its position in shares of Bunge Global by 25.3% in the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock worth $269,488,000 after purchasing an additional 699,889 shares in the last quarter. Finally, Amundi boosted its position in shares of 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. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

BG has been the topic of several analyst reports. Bank of America lowered their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley decreased their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Barclays decreased their target price 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. Finally, Stephens reduced their price objective on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Bunge Global Stock Performance

Shares of NYSE:BG opened at $74.37 on Thursday. The firm has a market cap of $9.96 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. The firm’s 50 day simple moving average is $73.12 and its 200-day simple moving average is $81.46. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15.

Bunge Global (NYSE:BG) last issued its quarterly earnings data 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 net margin of 2.14% and a return on equity of 11.73%. As a group, equities analysts predict that Bunge Global SA will post 7.94 EPS 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.