CIBC Asset Management Inc Boosts Position in Bunge Global SA (NYSE:BG)

CIBC Asset Management Inc lifted its position in Bunge Global SA (NYSE:BG) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,641 shares of the basic materials company’s stock after purchasing an additional 354 shares during the period. CIBC Asset Management Inc’s holdings in Bunge Global were worth $1,916,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of Bunge Global by 0.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company’s stock worth $2,305,000 after purchasing an additional 144 shares during the period. Caprock Group LLC raised its holdings in shares of Bunge Global by 2.2% in the 3rd quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after acquiring an additional 164 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 166 shares in the last quarter. Finally, Patton Albertson Miller Group LLC raised its position in shares of Bunge Global by 0.3% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 56,444 shares of the basic materials company’s stock valued at $5,455,000 after buying an additional 188 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BG has been the topic of a number of research analyst reports. 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 research note on Tuesday, February 11th. Barclays reduced their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Stephens dropped their target price on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Finally, Morgan Stanley reduced 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. Four 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.00.

Bunge Global Trading Up 2.6 %

NYSE BG opened at $73.12 on Friday. The firm has a market cap of $10.21 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 2.56 and a beta of 0.69. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The stock has a 50-day moving average of $76.30 and a 200-day moving average of $87.24. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) 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%. As a group, sell-side analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

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.