Bunge Global SA (NYSE:BG) Shares Bought by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP lifted its position in shares of Bunge Global SA (NYSE:BG) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,913 shares of the basic materials company’s stock after buying an additional 183 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Bunge Global were worth $615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in shares of Bunge Global by 13,459.9% in the fourth 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 last quarter. Norges Bank purchased a new position in Bunge Global in the 4th quarter valued at about $148,857,000. Invesco Ltd. boosted its stake in shares of Bunge Global by 28.6% during the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after purchasing an additional 713,561 shares during the last quarter. FMR LLC grew its holdings in shares of Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock worth $269,488,000 after buying an additional 699,889 shares in the last quarter. Finally, Amundi raised its position in shares of Bunge Global by 24.9% in the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock valued at $190,476,000 after buying an additional 490,153 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Stephens dropped their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Bank of America decreased their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Barclays dropped their price objective 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. Finally, 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 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.60.

Bunge Global Stock Performance

NYSE BG opened at $79.19 on Friday. The business’s 50-day simple moving average is $75.62 and its 200-day simple moving average is $79.42. The firm has a market capitalization of $10.61 billion, a P/E ratio of 9.80, a P/E/G ratio of 2.66 and a beta of 0.59. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27.

Bunge Global (NYSE:BG) 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 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%. Equities analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

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.