Baker Avenue Asset Management LP Has $27.62 Million Stock Position in Bunge Global SA $BG

Baker Avenue Asset Management LP raised its position in Bunge Global SA (NYSE:BG) by 11.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 339,911 shares of the basic materials company’s stock after acquiring an additional 35,110 shares during the period. Baker Avenue Asset Management LP owned approximately 0.17% of Bunge Global worth $27,618,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BG. United Services Automobile Association acquired a new stake in Bunge Global in the 1st quarter valued at $223,000. Woodline Partners LP grew its holdings in shares of Bunge Global by 34.5% during the first quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company’s stock valued at $862,000 after buying an additional 2,893 shares during the last quarter. Focus Partners Wealth increased its position in shares of Bunge Global by 16.7% during the first quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 580 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Bunge Global by 12.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the basic materials company’s stock worth $922,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Bunge Global by 455.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,327 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 1,908 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the sale, the vice president owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.

Bunge Global Trading Up 0.8%

Shares of Bunge Global stock opened at $113.55 on Friday. The firm has a market cap of $21.96 billion, a PE ratio of 12.22, a P/E/G ratio of 1.71 and a beta of 0.78. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83. The stock has a fifty day moving average price of $96.00 and a 200-day moving average price of $88.38.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.04. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. Equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Analysts Set New Price Targets

BG has been the subject of a number of recent research reports. CICC Research boosted their price objective on Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research report on Tuesday, December 2nd. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $105.00 to $120.00 in a research report on Thursday, November 6th. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $120.00 in a report on Tuesday, December 16th. Finally, UBS Group increased their target price on shares of Bunge Global from $100.00 to $108.00 in a report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $110.67.

About Bunge Global

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.