Cibc World Markets Corp Boosts Holdings in Bunge Global SA (NYSE:BG)

Cibc World Markets Corp grew its position in shares of Bunge Global SA (NYSE:BG) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,865 shares of the basic materials company’s stock after purchasing an additional 6,642 shares during the period. Cibc World Markets Corp’s holdings in Bunge Global were worth $4,266,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Old West Investment Management LLC grew its position in shares of Bunge Global by 6.7% during the third quarter. Old West Investment Management LLC now owns 120,043 shares of the basic materials company’s stock worth $11,601,000 after buying an additional 7,489 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Bunge Global by 2,840.3% during the third quarter. Victory Capital Management Inc. now owns 129,698 shares of the basic materials company’s stock worth $12,534,000 after buying an additional 125,287 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Bunge Global by 6.6% during the third quarter. CIBC Asset Management Inc now owns 24,287 shares of the basic materials company’s stock worth $2,347,000 after buying an additional 1,513 shares in the last quarter. Caprock Group LLC grew its position in shares of Bunge Global by 2.2% during the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after buying an additional 164 shares in the last quarter. Finally, Prospera Financial Services Inc grew its position in shares of Bunge Global by 5.5% during the third quarter. Prospera Financial Services Inc now owns 4,929 shares of the basic materials company’s stock worth $477,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BG shares. Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Morgan Stanley decreased their price target 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. Bank of America decreased their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Barclays decreased their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Three equities 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 stock. According to MarketBeat, Bunge Global currently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Bunge Global Stock Performance

Bunge Global stock opened at $75.22 on Thursday. The company has a market cap of $10.08 billion, a PE ratio of 9.31, a P/E/G ratio of 2.66 and a beta of 0.67. The company has a fifty day moving average price of $74.67 and a two-hundred day moving average price of $84.19. 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 12 month low of $67.40 and a 12 month high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings results 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%. Research analysts expect that Bunge Global SA will post 7.94 earnings per share 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.