Connor Clark & Lunn Investment Management Ltd. Purchases 58,465 Shares of Bunge Global SA (NYSE:BG)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bunge Global SA (NYSE:BG) by 277.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,511 shares of the basic materials company’s stock after purchasing an additional 58,465 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bunge Global were worth $6,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Spire Wealth Management bought a new stake in shares of Bunge Global in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Bunge Global during the third quarter valued at approximately $34,000. Crews Bank & Trust purchased a new stake in Bunge Global during the fourth quarter worth $39,000. R Squared Ltd bought a new position in shares of Bunge Global in the 4th quarter worth $45,000. Finally, Financial Perspectives Inc boosted its position in Bunge Global by 585.0% during 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 currently owned by hedge funds and other institutional investors.

Bunge Global Stock Up 0.6 %

NYSE:BG opened at $74.01 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The company has a market cap of $9.92 billion, a PE ratio of 9.16, a P/E/G ratio of 2.66 and a beta of 0.67. The company’s 50 day moving average is $74.84 and its two-hundred day moving average is $84.74.

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 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%. Analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Analysts Set New Price Targets

BG has been the subject of several analyst reports. Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Bank of America decreased their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Barclays cut 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 report on Thursday, February 6th. Finally, Morgan Stanley decreased their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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.