Raymond James Financial Inc. Acquires Shares of 25,646 Bunge Global SA (NYSE:BG)

Raymond James Financial Inc. purchased a new stake in Bunge Global SA (NYSE:BG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 25,646 shares of the basic materials company's stock, valued at approximately $1,994,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Spire Wealth Management bought a new stake in Bunge Global in the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bunge Global during the third quarter valued at approximately $34,000. Crews Bank & Trust bought a new position in Bunge Global during the fourth quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in Bunge Global in the fourth quarter worth approximately $45,000. Finally, Financial Perspectives Inc grew its position in Bunge Global by 585.0% in the 4th quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company's stock worth $53,000 after purchasing an additional 585 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Up 0.9 %

NYSE BG traded up $0.71 during midday trading on Friday, hitting $79.19. 1,505,173 shares of the company traded hands, compared to its average volume of 1,572,540. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company's 50-day simple moving average is $75.62 and its 200-day simple moving average is $79.32. The company has a market cap of $10.61 billion, a PE ratio of 9.80, 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 current ratio of 2.15 and a quick ratio of 1.27.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results 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 return on equity of 11.73% and a net margin of 2.14%. As a group, equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America reduced their price objective on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Morgan Stanley cut 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 report on Tuesday, February 11th. Barclays reduced their price objective on 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. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Finally, Stephens dropped their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.60.

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.