Summit Global Investments Invests $4.75 Million in Bunge Global SA (NYSE:BG)

Summit Global Investments acquired a new position in shares of Bunge Global SA (NYSE:BG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 61,086 shares of the basic materials company's stock, valued at approximately $4,750,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BG. Spire Wealth Management purchased a new stake in Bunge Global during the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bunge Global during the 3rd quarter worth about $34,000. Crews Bank & Trust acquired a new stake in Bunge Global during the 4th quarter worth approximately $39,000. R Squared Ltd purchased a new position in Bunge Global in the fourth quarter valued at approximately $45,000. Finally, Financial Perspectives Inc raised its holdings in Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company's stock valued at $53,000 after buying an additional 585 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BG. Stephens dropped their price objective on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Bank of America cut their price objective on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research 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. Finally, Morgan Stanley lowered their target price 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. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.00.

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Bunge Global Stock Up 1.1 %

Shares of NYSE BG traded up $0.80 during midday trading on Wednesday, reaching $74.25. 1,196,853 shares of the company's stock were exchanged, compared to its average volume of 1,493,822. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The business's fifty day moving average price is $74.10 and its two-hundred day moving average price is $83.34. The stock has a market capitalization of $9.95 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last posted 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 return on equity of 11.73% and a net margin of 2.14%. Analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global 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.