Ellsworth Advisors LLC Raises Holdings in Bunge Global SA (NYSE:BG)

Ellsworth Advisors LLC grew its position in Bunge Global SA (NYSE:BG) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,739 shares of the basic materials company’s stock after buying an additional 415 shares during the quarter. Ellsworth Advisors LLC’s holdings in Bunge Global were worth $781,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Uncommon Cents Investing LLC lifted its holdings in shares of Bunge Global by 1.4% in the 4th quarter. Uncommon Cents Investing LLC now owns 32,660 shares of the basic materials company’s stock worth $3,297,000 after buying an additional 445 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Bunge Global by 1.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 26,462 shares of the basic materials company’s stock worth $2,671,000 after purchasing an additional 457 shares during the last quarter. Invera Wealth Advisors LLC purchased a new stake in shares of Bunge Global during the 4th quarter worth $263,000. CoreCap Advisors LLC lifted its stake in shares of Bunge Global by 9.0% during the 4th quarter. CoreCap Advisors LLC now owns 3,147 shares of the basic materials company’s stock worth $318,000 after purchasing an additional 260 shares during the last quarter. Finally, Cooper Financial Group purchased a new stake in shares of Bunge Global during the 4th quarter worth $205,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

Shares of BG stock traded up $0.10 during mid-day trading on Friday, reaching $102.52. The stock had a trading volume of 1,357,345 shares, compared to its average volume of 1,885,264. The business’s fifty day moving average is $92.74 and its 200-day moving average is $100.64. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of 6.88 and a beta of 0.64. Bunge Global SA has a 1-year low of $86.10 and a 1-year high of $116.59.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.89. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.24 earnings per share. On average, research analysts forecast that Bunge Global SA will post 9.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BG. The Goldman Sachs Group decreased their price objective on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. Citigroup began coverage on Bunge Global in a research note on Thursday, February 1st. They set a “buy” rating and a $108.00 price objective for the company. Finally, Robert W. Baird decreased their price target on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.44.

Bunge Global Company 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.