Commerzbank Aktiengesellschaft FI Acquires 7,493 Shares of Bunge Global SA $BG

Commerzbank Aktiengesellschaft FI grew its holdings in shares of Bunge Global SA (NYSE:BG) by 107.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,482 shares of the basic materials company’s stock after acquiring an additional 7,493 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bunge Global were worth $1,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BG. Glencore plc purchased a new position in Bunge Global during the 3rd quarter valued at $2,665,496,000. Geode Capital Management LLC boosted its stake in shares of Bunge Global by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock valued at $282,683,000 after purchasing an additional 80,082 shares in the last quarter. LSV Asset Management boosted its stake in shares of Bunge Global by 2.1% during the 2nd quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company’s stock valued at $171,467,000 after purchasing an additional 43,343 shares in the last quarter. Norges Bank purchased a new position in shares of Bunge Global during the second quarter valued at about $149,380,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Bunge Global by 6.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,702,989 shares of the basic materials company’s stock worth $136,716,000 after buying an additional 99,320 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley raised Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $120.00 in a research report on Tuesday, December 16th. JPMorgan Chase & Co. raised their target price on Bunge Global from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Stephens increased their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, BMO Capital Markets raised their price objective on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. One investment 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $110.67.

Bunge Global Stock Performance

Bunge Global stock opened at $113.55 on Monday. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.00. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.96 billion, a P/E ratio of 12.22, a PEG ratio of 1.72 and a beta of 0.78. The stock’s 50 day moving average is $96.00 and its 200 day moving average is $88.56.

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

Insider Buying and Selling

In related news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction dated 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 sale, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The sale 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.

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.