Allworth Financial LP Purchases 373 Shares of Bunge Global SA (NYSE:BG)

Allworth Financial LP grew its position in shares of Bunge Global SA (NYSE:BG) by 56.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,033 shares of the basic materials company’s stock after acquiring an additional 373 shares during the quarter. Allworth Financial LP’s holdings in Bunge Global were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BG. Loomis Sayles & Co. L P lifted its position in Bunge Global by 169.8% in the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after buying an additional 146 shares during the last quarter. Country Trust Bank lifted its position in Bunge Global by 533.3% in the third quarter. Country Trust Bank now owns 304 shares of the basic materials company’s stock worth $33,000 after buying an additional 256 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in Bunge Global in the first quarter worth $36,000. Rise Advisors LLC lifted its position in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after buying an additional 117 shares during the last quarter. Finally, First Manhattan CO. LLC. bought a new stake in Bunge Global in the first quarter worth $48,000. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $103.80 on Friday. The firm has a market cap of $14.63 billion, a P/E ratio of 6.97 and a beta of 0.64. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The stock’s fifty day moving average price is $96.14 and its 200-day moving average price is $100.03.

Bunge Global (NYSE:BG) last posted its 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 return on equity of 18.30% and a net margin of 3.77%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the firm earned $3.24 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts expect that Bunge Global SA will post 9.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BG has been the subject of several research analyst reports. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Roth Mkm decreased their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Robert W. Baird decreased their target price on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, January 23rd. The Goldman Sachs Group decreased their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, Citigroup lifted their target price on Bunge Global from $108.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four 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 currently has an average rating of “Moderate Buy” and a consensus 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.