Baker Avenue Asset Management LP Increases Stake in Bunge Global SA $BG

Baker Avenue Asset Management LP raised its holdings in shares of Bunge Global SA (NYSE:BG) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 339,911 shares of the basic materials company’s stock after acquiring an additional 35,110 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Bunge Global were worth $27,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BG. Polianta Ltd bought a new position in Bunge Global in the 3rd quarter worth about $1,560,000. Voya Investment Management LLC lifted its holdings in shares of Bunge Global by 719.2% in the third quarter. Voya Investment Management LLC now owns 303,928 shares of the basic materials company’s stock worth $24,694,000 after buying an additional 266,827 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Bunge Global by 300.4% in the third quarter. SG Americas Securities LLC now owns 46,053 shares of the basic materials company’s stock valued at $3,742,000 after acquiring an additional 34,551 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Bunge Global during the second quarter valued at approximately $382,000. Finally, AE Wealth Management LLC grew its stake in Bunge Global by 1,596.3% during the second quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock valued at $13,162,000 after acquiring an additional 154,279 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Transactions at Bunge Global

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares in the company, valued at $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BG has been the topic of several recent analyst reports. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. increased their price objective on Bunge Global from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Thursday, November 6th. Stephens boosted their target price on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Bank of America raised their price target on Bunge Global from $112.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $110.67.

Bunge Global Stock Performance

NYSE BG opened at $113.55 on Friday. The company has a market capitalization of $21.96 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.00. The company has a fifty day moving average of $96.00 and a 200-day moving average of $88.38.

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

Bunge Global Company Profile

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.