Summit Global Investments Makes New Investment in Bunge Global SA (NYSE:BG)

Summit Global Investments bought a new position in shares of Bunge Global SA (NYSE:BG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,086 shares of the basic materials company’s stock, valued at approximately $4,750,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Magnetar Financial LLC acquired a new position in Bunge Global during the fourth quarter worth about $2,799,000. Royal London Asset Management Ltd. grew its position in Bunge Global by 15.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 86,406 shares of the basic materials company’s stock worth $6,719,000 after buying an additional 11,586 shares during the period. Xponance Inc. grew its position in Bunge Global by 4.7% during the fourth quarter. Xponance Inc. now owns 69,949 shares of the basic materials company’s stock worth $5,439,000 after buying an additional 3,146 shares during the period. Intech Investment Management LLC grew its position in shares of Bunge Global by 267.4% in the fourth quarter. Intech Investment Management LLC now owns 184,460 shares of the basic materials company’s stock valued at $14,344,000 after purchasing an additional 134,249 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its position in shares of Bunge Global by 18.2% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 319,121 shares of the basic materials company’s stock valued at $24,815,000 after purchasing an additional 49,046 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of BG opened at $73.29 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.66 and a beta of 0.67. The company’s 50 day simple moving average is $74.44 and its 200 day simple moving average is $83.92. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, sell-side analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays lowered their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley lowered their price target 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. Stephens lowered their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Finally, Bank of America lowered their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

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.