Korea Investment CORP Purchases 55,500 Shares of Bunge Global SA (NYSE:BG)

Korea Investment CORP boosted its holdings in shares of Bunge Global SA (NYSE:BG) by 108.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,708 shares of the basic materials company’s stock after acquiring an additional 55,500 shares during the period. Korea Investment CORP owned approximately 0.08% of Bunge Global worth $8,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BG. Spire Wealth Management bought a new stake in shares of Bunge Global during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new position in Bunge Global in the 3rd quarter worth $34,000. Crews Bank & Trust bought a new position in Bunge Global during the 4th quarter worth about $39,000. R Squared Ltd acquired a new stake in shares of Bunge Global in the 4th quarter valued at about $45,000. Finally, Financial Perspectives Inc lifted its holdings in shares of Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 585 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Price Performance

Shares of BG opened at $76.52 on Tuesday. 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 company’s fifty day simple moving average is $73.80 and its 200 day simple moving average is $82.75. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG) last released 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%. On average, research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BG. 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 research report on Thursday, February 6th. Stephens lowered their price objective on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Bank of America reduced their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, 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 research report on Tuesday, February 11th. Three investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.00.

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.