Envestnet Asset Management Inc. Acquires 13,488 Shares of Bunge Global SA (NYSE:BG)

Envestnet Asset Management Inc. raised its position in Bunge Global SA (NYSE:BG - Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,620 shares of the basic materials company's stock after purchasing an additional 13,488 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Bunge Global worth $11,945,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BG. Old West Investment Management LLC boosted its position in Bunge Global by 3.6% during the 4th quarter. Old West Investment Management LLC now owns 124,414 shares of the basic materials company's stock worth $9,674,000 after buying an additional 4,371 shares during the period. Aviva PLC raised its stake in shares of Bunge Global by 7.6% during the fourth quarter. Aviva PLC now owns 418,051 shares of the basic materials company's stock valued at $32,508,000 after acquiring an additional 29,566 shares during the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of Bunge Global during the fourth quarter worth $295,000. Pitcairn Co. bought a new stake in shares of Bunge Global in the fourth quarter worth $214,000. Finally, Bryce Point Capital LLC acquired a new stake in Bunge Global in the fourth quarter valued at $475,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Down 0.6 %

Shares of Bunge Global stock traded down $0.47 on Wednesday, reaching $79.62. 150,966 shares of the company's stock were exchanged, compared to its average volume of 1,719,692. The firm's 50-day moving average is $74.31 and its two-hundred day moving average is $80.24. The company has a market capitalization of $10.67 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. 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 SA has a 52 week low of $67.40 and a 52 week high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) 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 net margin of 2.14% and a return on equity of 11.73%. Sell-side analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BG has been the topic of several recent research reports. Morgan Stanley cut their target price on 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 reduced 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. Citigroup raised their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Stephens reduced their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Barclays lowered 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. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.60.

About Bunge Global

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.