Pictet Asset Management Holding SA Purchases 6,846 Shares of Bunge Global SA (NYSE:BG)

Pictet Asset Management Holding SA boosted its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,467 shares of the basic materials company's stock after acquiring an additional 6,846 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Bunge Global worth $6,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BG. American Century Companies Inc. boosted its position in shares of Bunge Global by 9.5% during the 4th quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock worth $18,815,000 after acquiring an additional 20,942 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Bunge Global by 16.9% in the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company's stock valued at $26,371,000 after purchasing an additional 39,646 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Bunge Global by 7.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock valued at $302,000 after purchasing an additional 278 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Bunge Global by 39.6% during the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock worth $1,665,000 after buying an additional 6,077 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new stake in shares of Bunge Global during the 3rd quarter worth $888,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Down 3.3 %

BG traded down $2.40 during trading on Tuesday, reaching $69.45. 2,126,565 shares of the company's stock were exchanged, compared to its average volume of 1,583,269. The firm has a fifty day moving average price of $73.22 and a two-hundred day moving average price of $81.67. The stock has a market capitalization of $9.30 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. Bunge Global SA has a one year low of $67.40 and a one year 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 issued its quarterly earnings data 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 return on equity of 11.73% and a net margin of 2.14%. As a group, equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on BG. Barclays lowered their target price on 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. 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. Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Finally, Stephens lowered their price target on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Three investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.