Concorde Financial Corp Decreases Position in Bunge Global SA (NYSE:BG)

Concorde Financial Corp reduced its stake in Bunge Global SA (NYSE:BG) by 46.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,466 shares of the basic materials company’s stock after selling 13,236 shares during the period. Concorde Financial Corp’s holdings in Bunge Global were worth $1,203,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BG. Cornerstone Select Advisors LLC purchased a new stake in shares of Bunge Global in the 4th quarter valued at about $1,239,000. Cetera Investment Advisers lifted its stake in Bunge Global by 7.6% in the fourth quarter. Cetera Investment Advisers now owns 16,437 shares of the basic materials company’s stock valued at $1,278,000 after buying an additional 1,166 shares during the last quarter. Bridgefront Capital LLC lifted its stake in Bunge Global by 555.6% in the fourth quarter. Bridgefront Capital LLC now owns 16,206 shares of the basic materials company’s stock valued at $1,260,000 after buying an additional 13,734 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Bunge Global by 19.0% during the fourth quarter. Captrust Financial Advisors now owns 4,899 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 783 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Bunge Global by 4.9% during the fourth quarter. Baird Financial Group Inc. now owns 22,000 shares of the basic materials company’s stock worth $1,711,000 after acquiring an additional 1,018 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

Shares of BG opened at $78.31 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $75.81 and its two-hundred day moving average is $79.11. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The firm has a market capitalization of $10.49 billion, a PE ratio of 9.69, a P/E/G ratio of 2.66 and a beta of 0.68.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share 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%. Research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Bank of America lowered their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup boosted their price target on Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Stephens decreased their price objective on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.60.

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.