Kornitzer Capital Management Inc. KS Decreases Stock Position in Bunge Global SA (NYSE:BG)

Kornitzer Capital Management Inc. KS cut its position in Bunge Global SA (NYSE:BG) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 71,240 shares of the basic materials company’s stock after selling 275 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Bunge Global were worth $5,540,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Bunge Global by 1.5% during the 4th quarter. CIBC Asset Management Inc now owns 24,641 shares of the basic materials company’s stock valued at $1,916,000 after purchasing an additional 354 shares in the last quarter. Meixler Investment Management Ltd. boosted its holdings in shares of Bunge Global by 14.3% in the fourth quarter. Meixler Investment Management Ltd. now owns 5,481 shares of the basic materials company’s stock worth $426,000 after buying an additional 686 shares during the period. Allworth Financial LP boosted its holdings in shares of Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock worth $62,000 after buying an additional 194 shares during the period. WealthPlan Investment Management LLC purchased a new stake in shares of Bunge Global in the fourth quarter worth approximately $237,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Bunge Global by 7.8% in the fourth quarter. V Square Quantitative Management LLC now owns 4,707 shares of the basic materials company’s stock worth $366,000 after purchasing an additional 340 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Stock Performance

Bunge Global stock opened at $69.88 on Wednesday. The stock has a 50-day simple moving average of $77.03 and a 200 day simple moving average of $87.63. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 8.65 and a beta of 0.69.

Bunge Global (NYSE:BG) last announced 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 anticipate that Bunge Global SA will post 7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BG has been the topic of several recent research reports. Bank of America cut their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Barclays decreased their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bunge Global has an average rating of “Moderate Buy” and an average target price 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.