abrdn plc Boosts Stake in Bunge Global SA (NYSE:BG)

abrdn plc lifted its stake in Bunge Global SA (NYSE:BG) by 12.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 572,162 shares of the basic materials company’s stock after purchasing an additional 64,887 shares during the period. abrdn plc owned 0.39% of Bunge Global worth $57,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Loomis Sayles & Co. L P increased its stake in Bunge Global by 169.8% in the 3rd 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 in the last quarter. Pinnacle Holdings LLC purchased a new stake in Bunge Global in the 1st quarter worth $36,000. Rise Advisors LLC increased its stake in Bunge Global by 40.6% in the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after buying an additional 117 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in Bunge Global in the 3rd quarter worth $54,000. Finally, First Manhattan CO. LLC. purchased a new stake in Bunge Global in the 1st quarter worth $48,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Up 2.8 %

Shares of NYSE:BG opened at $109.52 on Monday. 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 company has a 50-day moving average price of $97.89 and a 200 day moving average price of $99.85. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 7.36 and a beta of 0.64.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.89. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the prior year, the company posted $3.24 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities research analysts predict that Bunge Global SA will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on BG. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. The Goldman Sachs Group dropped their price objective on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. BMO Capital Markets dropped their price objective on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Finally, Barclays dropped their price objective on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and an average price target of $120.44.

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.