Korea Investment CORP Buys 55,500 Shares of Bunge Global SA (NYSE:BG)

Korea Investment CORP lifted its stake in shares of Bunge Global SA (NYSE:BG) by 108.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 106,708 shares of the basic materials company’s stock after buying an additional 55,500 shares during the quarter. Korea Investment CORP’s holdings in Bunge Global were worth $8,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BG. State Street Corp grew its holdings in Bunge Global by 7.6% in the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after buying an additional 500,897 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bunge Global by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock valued at $329,697,000 after acquiring an additional 45,159 shares in the last quarter. Pacer Advisors Inc. increased its position in Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after acquiring an additional 2,934,656 shares during the period. Amundi increased its position in Bunge Global by 24.9% during the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock worth $190,476,000 after acquiring an additional 490,153 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Bunge Global by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,502,083 shares of the basic materials company’s stock worth $116,802,000 after purchasing an additional 57,462 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Up 0.1 %

Shares of BG opened at $76.52 on Tuesday. The firm has a 50 day simple moving average of $73.80 and a two-hundred day simple moving average of $82.75. 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 one year low of $67.40 and a one year high of $114.92. The company has a market cap of $10.25 billion, a P/E ratio of 9.47, a P/E/G ratio of 2.66 and a beta of 0.67.

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 return on equity of 11.73% and a net margin of 2.14%. Research analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on BG shares. Morgan Stanley decreased their target price 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. Bank of America lowered their price objective 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 cut their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Stephens decreased their price target on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

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.