Bank of New York Mellon Corp Purchases 41,884 Shares of Bunge Global SA (NYSE:BG)

Bank of New York Mellon Corp increased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 840,587 shares of the basic materials company's stock after acquiring an additional 41,884 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of Bunge Global worth $65,364,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of Bunge Global during the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Bunge Global during the 3rd quarter worth about $34,000. Crews Bank & Trust purchased a new position in Bunge Global during the 4th quarter valued at about $39,000. Farther Finance Advisors LLC increased its holdings in shares of Bunge Global by 40.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 124 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Bunge Global in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BG shares. Barclays dropped their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Bank of America cut their price objective on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Stephens lowered their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price objective on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bunge Global has a consensus rating of "Moderate Buy" and an average price target of $93.00.

Bunge Global Stock Performance

Bunge Global stock traded up $0.02 on Wednesday, reaching $71.72. 1,406,653 shares of the stock were exchanged, compared to its average volume of 1,489,360. The stock has a market cap of $9.61 billion, a PE ratio of 8.88, a PEG ratio of 2.66 and a beta of 0.69. The firm has a fifty day moving average price of $75.42 and a two-hundred day moving average price of $85.97. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Bunge Global SA will post 7.94 EPS for the current 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.