Graypoint LLC Acquires New Holdings in Bunge Global SA (NYSE:BG)

Graypoint LLC acquired a new stake in Bunge Global SA (NYSE:BG) in the fourth quarter, HoldingsChannel reports. The firm acquired 2,008 shares of the basic materials company’s stock, valued at approximately $203,000.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Bunge Global by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company’s stock valued at $1,989,285,000 after buying an additional 60,660 shares during the last quarter. State Street Corp raised its holdings in Bunge Global by 77.5% during the 1st quarter. State Street Corp now owns 6,814,463 shares of the basic materials company’s stock worth $650,918,000 after purchasing an additional 2,975,929 shares during the last quarter. Geode Capital Management LLC raised its holdings in Bunge Global by 59.8% during the 1st quarter. Geode Capital Management LLC now owns 3,100,158 shares of the basic materials company’s stock worth $295,462,000 after purchasing an additional 1,159,939 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Bunge Global by 28.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock worth $318,509,000 after purchasing an additional 659,471 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Bunge Global by 2.8% during the 3rd quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock worth $299,103,000 after purchasing an additional 75,936 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

NYSE BG opened at $103.93 on Tuesday. The company has a fifty day simple moving average of $96.44 and a 200 day simple moving average of $99.85. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The company has a market cap of $14.65 billion, a P/E ratio of 6.98 and a beta of 0.64.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.89. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the firm posted $3.24 EPS. Bunge Global’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Bunge Global SA will post 9.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on BG shares. The Goldman Sachs Group lowered their price target on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Barclays lowered their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and lowered their price target for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Robert W. Baird lowered their price objective on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Finally, Roth Mkm lowered their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.44.

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.