Levin Capital Strategies L.P. Buys 6,000 Shares of Bunge Global SA (NYSE:BG)

Levin Capital Strategies L.P. increased its stake in shares of Bunge Global SA (NYSE:BG) by 130.3% during the 4th quarter, Holdings Channel reports. The fund owned 10,605 shares of the basic materials company’s stock after acquiring an additional 6,000 shares during the period. Levin Capital Strategies L.P.’s holdings in Bunge Global were worth $825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares in the last quarter. Caprock Group LLC lifted its stake in shares of Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after buying an additional 164 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in shares of Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after buying an additional 166 shares in the last quarter. Patton Albertson Miller Group LLC lifted its stake in shares of Bunge Global by 0.3% in the third quarter. Patton Albertson Miller Group LLC now owns 56,444 shares of the basic materials company’s stock valued at $5,455,000 after buying an additional 188 shares in the last quarter. Finally, Allworth Financial LP lifted its stake 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 valued at $62,000 after buying an additional 194 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays dropped their price objective 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. Morgan Stanley dropped 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. Stephens dropped their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Bank of America dropped their price target 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. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. 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 Price Performance

Shares of NYSE:BG opened at $74.34 on Friday. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company’s 50-day moving average is $75.71 and its 200 day moving average is $86.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The company has a market capitalization of $9.96 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69.

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

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.