Mackenzie Financial Corp Has $1.28 Million Stock Holdings in Bunge Global SA (NYSE:BG)

Mackenzie Financial Corp cut its position in shares of Bunge Global SA (NYSE:BG) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,645 shares of the basic materials company’s stock after selling 203 shares during the quarter. Mackenzie Financial Corp’s holdings in Bunge Global were worth $1,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P boosted its holdings in Bunge Global by 169.8% during the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 146 shares in the last quarter. Rise Advisors LLC boosted its holdings in Bunge Global by 40.6% during the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 117 shares in the last quarter. Ramirez Asset Management Inc. acquired a new stake in Bunge Global during the third quarter valued at approximately $54,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Bunge Global by 24.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 584 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 115 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Bunge Global in the 3rd quarter worth approximately $69,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $105.77 on Thursday. The firm has a fifty day moving average of $99.02 and a two-hundred day moving average of $99.98. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 7.10 and a beta of 0.64. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 EPS for the quarter, beating the consensus estimate of $2.81 by $0.89. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.24 EPS. As a group, equities research analysts predict that Bunge Global SA will post 9.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BG. Robert W. Baird reduced their target price on Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Barclays reduced their target price on Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, January 23rd. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. 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 research report on Thursday, February 8th. Finally, Roth Mkm dropped their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.