Waterfront Wealth Inc. Increases Stock Position in Bunge Global SA (NYSE:BG)

Waterfront Wealth Inc. boosted its stake in Bunge Global SA (NYSE:BG) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,149 shares of the basic materials company’s stock after acquiring an additional 4,309 shares during the period. Waterfront Wealth Inc.’s holdings in Bunge Global were worth $1,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of Bunge Global by 16.9% in the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock valued at $26,371,000 after buying an additional 39,646 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Bunge Global by 7.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after acquiring an additional 278 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Bunge Global by 39.6% during the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock worth $1,665,000 after acquiring an additional 6,077 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of Bunge Global during the third quarter worth about $888,000. Finally, State Street Corp increased its stake in shares of Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after acquiring an additional 500,897 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Up 1.4 %

BG stock opened at $71.19 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The firm has a market capitalization of $9.94 billion, a PE ratio of 8.81, a P/E/G ratio of 2.54 and a beta of 0.69. The company’s 50 day simple moving average is $76.49 and its 200-day simple moving average is $87.40. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92.

Bunge Global (NYSE:BG) last announced 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 net margin of 2.14% and a return on equity of 11.73%. Equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BG shares. Barclays dropped 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. Stephens lowered their target price on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Morgan Stanley lowered their target price 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. Finally, Bank of America lowered their target price 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. Four investment 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 company’s stock. Based on data from MarketBeat.com, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus 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.