Ninety One UK Ltd Cuts Stock Position in Bunge Global SA (NYSE:BG)

Ninety One UK Ltd lessened its position in Bunge Global SA (NYSE:BG) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,016 shares of the basic materials company’s stock after selling 7,739 shares during the quarter. Ninety One UK Ltd’s holdings in Bunge Global were worth $6,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its holdings in shares of Bunge Global by 169.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock valued at $25,000 after buying an additional 146 shares during the period. Pinnacle Holdings LLC acquired a new position in Bunge Global during the 1st quarter worth $36,000. Rise Advisors LLC grew its stake in Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 117 shares in the last quarter. Ramirez Asset Management Inc. acquired a new position in Bunge Global during the 3rd quarter worth $54,000. Finally, First Manhattan CO. LLC. acquired a new position in Bunge Global during the 1st quarter worth $48,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Up 1.0 %

Shares of NYSE BG opened at $106.51 on Friday. The stock has a market cap of $15.02 billion, a PE ratio of 7.15 and a beta of 0.64. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $116.59. The business has a 50-day moving average price of $97.47 and a 200 day moving average price of $99.90.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.89. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.24 EPS. Equities research analysts forecast that Bunge Global SA will post 9.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BG shares. Barclays lowered their target price on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, January 23rd. The Goldman Sachs Group lowered their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. BMO Capital Markets lowered their price objective on Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Finally, HSBC raised Bunge Global from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

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.