Cornerstone Select Advisors LLC Invests $1.24 Million in Bunge Global SA (NYSE:BG)

Cornerstone Select Advisors LLC purchased a new position in shares of Bunge Global SA (NYSE:BG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,928 shares of the basic materials company's stock, valued at approximately $1,239,000. Bunge Global accounts for approximately 1.2% of Cornerstone Select Advisors LLC's investment portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its position 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 buying an additional 2,934,656 shares in the last quarter. Norges Bank acquired a new position in Bunge Global during the fourth quarter valued at approximately $148,857,000. Invesco Ltd. grew its stake in shares of Bunge Global by 28.6% during the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after buying an additional 713,561 shares during the last quarter. FMR LLC grew its stake 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 buying an additional 699,889 shares during the last quarter. Finally, Amundi grew 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 worth $190,476,000 after buying an additional 490,153 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Up 2.2%

Shares of BG stock traded up $1.69 on Monday, reaching $79.04. 511,898 shares of the company were exchanged, compared to its average volume of 1,591,517. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 2.66 and a beta of 0.68. The company has a 50-day moving average of $76.05 and a 200-day moving average of $78.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92.

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, beating the consensus estimate of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The business had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter last year, the firm earned $3.04 EPS. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. Analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Barclays reduced their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Stephens cut their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday. Morgan Stanley cut 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 research report on Tuesday, February 11th. Finally, Citigroup upped 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Bunge Global presently has a consensus rating of "Hold" and an average price target of $81.60.

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.