Entropy Technologies LP Acquires Shares of 14,925 Bunge Global SA (NYSE:BG)

Entropy Technologies LP bought a new position in shares of Bunge Global SA (NYSE:BG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,925 shares of the basic materials company's stock, valued at approximately $1,161,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Bunge Global by 7.6% during the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company's stock worth $681,467,000 after purchasing an additional 500,897 shares in the last quarter. Geode Capital Management LLC grew its stake in Bunge Global by 1.3% in 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 during the period. Pacer Advisors Inc. grew its stake in 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 acquiring an additional 2,934,656 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Bunge Global by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company's stock worth $139,608,000 after acquiring an additional 50,615 shares during the period. Finally, abrdn plc grew its stake in Bunge Global by 2.0% in the 3rd quarter. abrdn plc now owns 608,837 shares of the basic materials company's stock worth $58,990,000 after acquiring an additional 11,808 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

Bunge Global Trading Up 1.1 %

Shares of BG traded up $0.75 during mid-day trading on Friday, reaching $70.54. The company had a trading volume of 1,276,675 shares, compared to its average volume of 1,641,279. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 8.73 and a beta of 0.69. The firm has a fifty day simple moving average of $77.63 and a 200-day simple moving average of $88.37. 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 current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last posted 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%. On average, sell-side analysts anticipate that Bunge Global SA will post 7.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BG has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research note on Tuesday. Barclays lowered their target price on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Finally, Bank of America decreased their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bunge Global currently has an average rating of "Moderate Buy" and a consensus target price of $93.00.

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.