21,320 Bunge Global SA $BG Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its stake in Bunge Global SA (NYSE:BG) by 31.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 88,975 shares of the basic materials company’s stock after acquiring 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 SEC.

Several other large investors have also recently made changes to their positions in BG. Gould Asset Management LLC CA increased its holdings in Bunge Global by 2.3% in the 1st quarter. Gould Asset Management LLC CA now owns 4,379 shares of the basic materials company’s stock valued at $557,000 after purchasing an additional 99 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Bunge Global by 5.4% in the third quarter. Chicago Partners Investment Group LLC now owns 2,130 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 110 shares during the period. CoreCap Advisors LLC raised its position in Bunge Global by 19.3% in the second quarter. CoreCap Advisors LLC now owns 747 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 121 shares during the period. PNC Financial Services Group Inc. lifted its stake in Bunge Global by 0.6% during the first quarter. PNC Financial Services Group Inc. now owns 20,150 shares of the basic materials company’s stock worth $2,563,000 after purchasing an additional 129 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Bunge Global by 5.7% during the second quarter. Valeo Financial Advisors LLC now owns 2,421 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 130 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bunge Global Price Performance

Shares of BG opened at $99.14 on Friday. Bunge Global SA has a fifty-two week low of $88.24 and a fifty-two week high of $134.87. The firm’s 50 day moving average price is $109.12 and its 200 day moving average price is $116.71. The company has a market cap of $19.05 billion, a P/E ratio of 16.66 and a beta of 0.70. The company has a quick ratio of 0.65, a current ratio of 1.50 and a debt-to-equity ratio of 0.50.

Bunge Global (NYSE:BG) last released its earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.15. Bunge Global had a net margin of 1.24% and a return on equity of 9.34%. The company had revenue of $23.80 billion for the quarter, compared to analyst estimates of $23.28 billion. During the same period in the prior year, the business earned $2.27 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that Bunge Global SA will post 9.63 earnings per share for the current fiscal year.

Bunge Global Profile

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.