CoreFirst Bank & Trust Acquires New Stake in Bunge Global SA (NYSE:BG)

CoreFirst Bank & Trust acquired a new position in shares of Bunge Global SA (NYSE:BG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,820 shares of the basic materials company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Old West Investment Management LLC boosted its holdings in Bunge Global by 6.7% in the 3rd quarter. Old West Investment Management LLC now owns 120,043 shares of the basic materials company’s stock valued at $11,601,000 after purchasing an additional 7,489 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Bunge Global in the third quarter valued at approximately $2,034,000. Charles Schwab Investment Management Inc. grew its holdings in Bunge Global by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after acquiring an additional 50,615 shares during the period. Swedbank AB raised its position in Bunge Global by 11.9% in the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after acquiring an additional 15,241 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Bunge Global by 4.3% in the third quarter. Daiwa Securities Group Inc. now owns 30,489 shares of the basic materials company’s stock valued at $2,947,000 after acquiring an additional 1,261 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 0.7 %

Shares of NYSE BG opened at $72.72 on Tuesday. The firm’s 50-day moving average is $74.26 and its two-hundred day moving average is $83.52. The company has a market capitalization of $9.74 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. 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) last issued its quarterly earnings data 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 return on equity of 11.73% and a net margin of 2.14%. Equities analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BG. Barclays cut their price target 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. Stephens reduced their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Bank of America lowered their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

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.