Bunge Global SA $BG Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its stake in Bunge Global SA (NYSE:BG) by 31.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,975 shares of the basic materials company’s stock after purchasing an additional 21,320 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bunge Global were worth $9,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. increased its holdings in Bunge Global by 49,582.8% in the third quarter. TD Waterhouse Canada Inc. now owns 193,763 shares of the basic materials company’s stock valued at $19,654,000 after buying an additional 193,373 shares during the last quarter. MLG Wealth Management DBA Pine Grove Financial Group purchased a new stake in Bunge Global during the 2nd quarter worth about $1,116,000. Evergreen Capital Management LLC lifted its holdings in Bunge Global by 495.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 164,184 shares of the basic materials company’s stock worth $17,280,000 after buying an additional 136,588 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Bunge Global by 4,973.8% during the 1st quarter. NewEdge Advisors LLC now owns 42,468 shares of the basic materials company’s stock worth $5,402,000 after buying an additional 41,631 shares during the last quarter. Finally, National Pension Service boosted its position in shares of Bunge Global by 267.7% during the 2nd quarter. National Pension Service now owns 31,461 shares of the basic materials company’s stock worth $3,358,000 after acquiring an additional 22,904 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

BG has been the topic of a number of recent analyst reports. Zacks Research downgraded Bunge Global from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. JPMorgan Chase & Co. decreased their target price on Bunge Global from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. BMO Capital Markets restated an “outperform” rating and set a $150.00 target price on shares of Bunge Global in a research note on Thursday, August 13th. Weiss Ratings raised Bunge Global from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Finally, UBS Group increased their price target on shares of Bunge Global from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.38.

Bunge Global Stock Performance

Shares of BG stock opened at $99.14 on Friday. The stock’s 50-day moving average is $109.12 and its two-hundred day moving average is $116.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50. Bunge Global SA has a 1 year low of $88.24 and a 1 year high of $134.87. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 16.66 and a beta of 0.70.

Bunge Global (NYSE:BG) last posted its earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.15. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The business had revenue of $23.80 billion during the quarter, compared to the consensus estimate of $23.28 billion. During the same period in the previous year, the business earned $2.27 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts predict that Bunge Global SA will post 9.63 earnings per share for the current year.

About Bunge Global

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains.

The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services.

Founded in 1818, Bunge expanded from its European origins into a global business.