Y Intercept Hong Kong Ltd Buys New Stake in Bunge Global SA (NYSE:BG)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Bunge Global SA (NYSE:BG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 33,445 shares of the basic materials company's stock, valued at approximately $2,601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BG. AMF Tjanstepension AB grew its holdings in Bunge Global by 59.3% during the 3rd quarter. AMF Tjanstepension AB now owns 106,384 shares of the basic materials company's stock valued at $10,281,000 after purchasing an additional 39,600 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Bunge Global by 121.5% during the third quarter. Blue Trust Inc. now owns 658 shares of the basic materials company's stock valued at $70,000 after buying an additional 361 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Bunge Global during the third quarter valued at approximately $348,000. Assenagon Asset Management S.A. grew its stake in shares of Bunge Global by 10.5% during the third quarter. Assenagon Asset Management S.A. now owns 33,448 shares of the basic materials company's stock valued at $3,232,000 after buying an additional 3,185 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bunge Global by 24.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,915 shares of the basic materials company's stock worth $1,458,000 after buying an additional 2,926 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

BG has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Morgan Stanley cut their price target on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Stephens lowered their price objective on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.00.

Bunge Global Stock Up 1.5 %

Shares of BG traded up $1.09 during midday trading on Friday, reaching $74.34. 2,340,551 shares of the stock were exchanged, compared to its average volume of 1,630,041. The company has a market capitalization of $9.96 billion, a P/E ratio of 9.20, a PEG ratio of 2.66 and a beta of 0.69. 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 SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company's 50 day moving average is $75.81 and its two-hundred day moving average is $86.61.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results 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%. On average, sell-side analysts anticipate that Bunge Global SA will post 7.94 earnings per share 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.