Assenagon Asset Management S.A. Boosts Position in Bunge Global SA (NYSE:BG)

Assenagon Asset Management S.A. raised its stake in Bunge Global SA (NYSE:BG) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,744 shares of the basic materials company’s stock after acquiring an additional 4,296 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Bunge Global were worth $2,935,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Bunge Global by 39.0% in the second quarter. Xponance Inc. now owns 43,140 shares of the basic materials company’s stock worth $4,606,000 after acquiring an additional 12,104 shares during the last quarter. 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 worth $26,371,000 after acquiring an additional 39,646 shares during the last quarter. Swedbank AB raised its holdings in shares of Bunge Global by 11.9% in the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after acquiring an additional 15,241 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Bunge Global in the third quarter worth $888,000. Finally, Quarry LP raised its holdings in shares of Bunge Global by 167.1% in the second quarter. Quarry LP now owns 19,865 shares of the basic materials company’s stock worth $2,121,000 after acquiring an additional 12,429 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays cut Bunge Global from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $115.00 to $95.00 in a report on Tuesday. Stephens upgraded Bunge Global to a “strong-buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $115.14.

Bunge Global Stock Performance

Bunge Global stock opened at $78.64 on Wednesday. The firm has a market capitalization of $10.98 billion, a P/E ratio of 9.95 and a beta of 0.70. The stock has a fifty day moving average price of $82.85 and a 200 day moving average price of $92.84. Bunge Global SA has a 52 week low of $75.75 and a 52 week high of $114.92. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43.

About Bunge Global

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.