Baker Avenue Asset Management LP Buys 7,812 Shares of Bunge Global SA (NYSE:BG)

Baker Avenue Asset Management LP lifted its holdings in Bunge Global SA (NYSE:BG - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,040 shares of the basic materials company's stock after acquiring an additional 7,812 shares during the quarter. Baker Avenue Asset Management LP owned approximately 0.20% of Bunge Global worth $22,165,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BG. Pacer Advisors Inc. increased its holdings in shares of Bunge Global by 13,459.9% in the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company's stock valued at $229,894,000 after purchasing an additional 2,934,656 shares in the last quarter. Norges Bank bought a new position in Bunge Global in the 4th quarter valued at $148,857,000. Invesco Ltd. increased its stake 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 valued at $249,349,000 after buying an additional 713,561 shares during the period. FMR LLC raised its position in shares of Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after acquiring an additional 699,889 shares during the last quarter. Finally, Amundi lifted its stake in shares of Bunge Global by 24.9% during the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company's stock valued at $190,476,000 after acquiring an additional 490,153 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BG. Citigroup lifted their price objective on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Barclays lowered their price target on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Bank of America lowered their target price on shares of 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 target on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Trading Up 1.3 %

Bunge Global stock traded up $0.99 during midday trading on Friday, hitting $77.26. 986,857 shares of the stock were exchanged, compared to its average volume of 1,589,246. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $10.35 billion, a PE ratio of 9.56, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $79.01.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The company had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same period last year, the firm posted $3.04 earnings per share. The business's quarterly revenue was down 13.2% compared to the same quarter last year. Equities research analysts anticipate 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.