Bunge Global SA (NYSE:BG) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its position in Bunge Global SA (NYSE:BG) by 10.1% in the fourth quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Loomis Sayles & Co. L P grew its stake in Bunge Global by 169.8% in the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 146 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in Bunge Global in the first quarter valued at approximately $36,000. Rise Advisors LLC boosted its stake in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 117 shares during the period. First Manhattan CO. LLC. acquired a new position in Bunge Global in the first quarter valued at approximately $48,000. Finally, Ramirez Asset Management Inc. acquired a new position in Bunge Global in the third quarter valued at approximately $54,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BG shares. The Goldman Sachs Group decreased 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. Robert W. Baird decreased their target price on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Roth Mkm decreased their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Barclays decreased 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. Finally, HSBC raised Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the company from $122.00 to $105.00 in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Bunge Global Stock Performance

BG opened at $106.51 on Friday. The business’s 50 day moving average is $97.47 and its 200-day moving average is $99.90. 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 current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $116.59.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 EPS for the quarter, topping the consensus estimate of $2.81 by $0.89. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the company earned $3.24 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that Bunge Global SA will post 9.36 earnings per share for the current year.

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.