Deseret Mutual Benefit Administrators Increases Holdings in Bunge Global SA (NYSE:BG)

Deseret Mutual Benefit Administrators increased its stake in Bunge Global SA (NYSE:BG) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 880 shares of the basic materials company’s stock after purchasing an additional 178 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Bunge Global were worth $68,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. State Street Corp grew its position in Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after buying an additional 500,897 shares in the last quarter. Geode Capital Management LLC grew its position in Bunge Global by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock worth $329,697,000 after buying an additional 45,159 shares in the last quarter. Pacer Advisors Inc. grew its position in Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after buying an additional 2,934,656 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Bunge Global by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after buying an additional 50,615 shares in the last quarter. Finally, abrdn plc grew its position in Bunge Global by 2.0% during the third quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock worth $58,990,000 after buying an additional 11,808 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Up 2.6 %

Shares of BG stock opened at $73.12 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $76.30 and a two-hundred day moving average price of $87.19. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The firm has a market cap of $10.21 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Equities analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Ratings Changes

BG has been the subject of several recent analyst reports. Barclays reduced their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Bank of America reduced their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Stephens dropped their price target on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price target on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.