Geode Capital Management LLC Acquires 34,890 Shares of Bunge Global SA (NYSE:BG)

Geode Capital Management LLC raised its position in Bunge Global SA (NYSE:BG - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,457,858 shares of the basic materials company's stock after buying an additional 34,890 shares during the period. Geode Capital Management LLC owned 2.48% of Bunge Global worth $268,205,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. National Bank of Canada FI increased its position in shares of Bunge Global by 175.7% during the fourth quarter. National Bank of Canada FI now owns 101,862 shares of the basic materials company's stock valued at $7,921,000 after acquiring an additional 64,920 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Bunge Global by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 277,996 shares of the basic materials company's stock valued at $21,617,000 after purchasing an additional 3,900 shares during the last quarter. Colrain Capital LLC bought a new stake in shares of Bunge Global during the 4th quarter worth $2,799,000. Alliancebernstein L.P. boosted its holdings in shares of Bunge Global by 4.6% in the 4th quarter. Alliancebernstein L.P. now owns 202,130 shares of the basic materials company's stock worth $15,718,000 after buying an additional 8,847 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Bunge Global by 30.2% during the fourth quarter. Wellington Management Group LLP now owns 240,595 shares of the basic materials company's stock valued at $18,709,000 after buying an additional 55,861 shares during the period. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

BG stock traded down $1.19 during midday trading on Thursday, reaching $73.10. 260,707 shares of the company's stock traded hands, compared to its average volume of 1,582,795. The firm has a market capitalization of $9.79 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. The company has a 50-day moving average price of $73.12 and a two-hundred day moving average price of $81.46. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. 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 (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (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%. As a group, equities analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lowered 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 report on Thursday, February 6th. Morgan Stanley reduced 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. Stephens lowered their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Bank of America decreased 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. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bunge Global has an average rating of "Moderate Buy" and an average target price of $93.00.

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.