Raymond James Financial Inc. Acquires Shares of 25,646 Bunge Global SA (NYSE:BG)

Raymond James Financial Inc. bought a new position in shares of Bunge Global SA (NYSE:BG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 25,646 shares of the basic materials company’s stock, valued at approximately $1,994,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp increased its stake in shares of Bunge Global by 7.6% in 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 during the last quarter. Geode Capital Management LLC grew its holdings in Bunge Global by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock worth $329,697,000 after acquiring an additional 45,159 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Bunge Global by 13,459.9% in the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after purchasing an additional 2,934,656 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bunge Global by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,502,083 shares of the basic materials company’s stock valued at $116,802,000 after purchasing an additional 57,462 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Bunge Global by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 840,587 shares of the basic materials company’s stock worth $65,364,000 after purchasing an additional 41,884 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BG. Morgan Stanley lowered their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Barclays decreased 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 lowered their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Stephens dropped their target price on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.00.

Bunge Global Stock Performance

BG stock opened at $76.49 on Monday. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company has a market capitalization of $10.25 billion, a P/E ratio of 9.47, a PEG ratio of 2.66 and a beta of 0.67. The company has a 50-day simple moving average of $73.86 and a 200 day simple moving average of $82.89. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS 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%. Sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

About Bunge Global

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.