Baker Avenue Asset Management LP Raises Stock Holdings in Bunge Global SA (NYSE:BG)

Baker Avenue Asset Management LP boosted its holdings in Bunge Global SA (NYSE:BG - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,040 shares of the basic materials company's stock after buying an additional 7,812 shares during the period. Baker Avenue Asset Management LP owned approximately 0.20% of Bunge Global worth $22,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC increased its holdings in shares of Bunge Global by 17.2% in the 3rd quarter. Barclays PLC now owns 454,722 shares of the basic materials company's stock worth $43,945,000 after buying an additional 66,681 shares during the last quarter. Virtu Financial LLC bought a new stake in Bunge Global during the third quarter worth about $620,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bunge Global during the third quarter worth approximately $34,000. Synovus Financial Corp boosted its stake in shares of Bunge Global by 16.5% during the third quarter. Synovus Financial Corp now owns 5,124 shares of the basic materials company's stock valued at $495,000 after purchasing an additional 724 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Bunge Global by 16.9% in the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company's stock worth $26,371,000 after buying an additional 39,646 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BG shares. Stephens lowered their price objective on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Citigroup raised their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Morgan Stanley dropped their price target 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 Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Barclays reduced 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. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.60.

Bunge Global Stock Performance

Bunge Global stock traded up $0.49 during midday trading on Tuesday, hitting $78.31. The stock had a trading volume of 2,458,260 shares, compared to its average volume of 1,578,555. 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 52-week low of $67.40 and a 52-week high of $114.92. The company has a market capitalization of $10.49 billion, a PE ratio of 9.69, a P/E/G ratio of 2.66 and a beta of 0.68. The firm's fifty day moving average is $75.81 and its two-hundred day moving average is $79.11.

Bunge Global (NYSE:BG - Get Free Report) last released 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%. On average, research analysts forecast 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.