Waterfront Wealth Inc. Decreases Stake in Bunge Global SA (NYSE:BG)

Waterfront Wealth Inc. lessened its stake in Bunge Global SA (NYSE:BG) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,824 shares of the basic materials company’s stock after selling 116 shares during the quarter. Waterfront Wealth Inc.’s holdings in Bunge Global were worth $1,295,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P boosted its stake in shares of Bunge Global by 169.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock valued at $25,000 after buying an additional 146 shares during the period. Pinnacle Holdings LLC purchased a new position in shares of Bunge Global in the 1st quarter valued at about $36,000. Rise Advisors LLC raised its position in shares of Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 117 shares in the last quarter. First Manhattan CO. LLC. acquired a new stake in shares of Bunge Global during the 1st quarter worth about $48,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Bunge Global during the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of Bunge Global stock traded up $1.47 during trading on Wednesday, reaching $105.42. The company’s stock had a trading volume of 2,028,550 shares, compared to its average volume of 1,735,036. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a market capitalization of $14.86 billion, a P/E ratio of 7.08 and a beta of 0.64. The business has a 50 day moving average price of $97.07 and a 200-day moving average price of $99.86.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.89. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.24 earnings per share. As a group, sell-side analysts anticipate that Bunge Global SA will post 9.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BG. Barclays cut their target price on Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 23rd. Wolfe Research lowered Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Roth Mkm cut their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, HSBC raised Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.44.

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.