Mirae Asset Global Investments Co. Ltd. Sells 1,376 Shares of Bunge Global SA (NYSE:BG)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Bunge Global SA (NYSE:BG) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,345 shares of the basic materials company’s stock after selling 1,376 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bunge Global were worth $3,063,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Loomis Sayles & Co. L P boosted 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 valued at $25,000 after acquiring an additional 146 shares during the last quarter. Pinnacle Holdings LLC bought 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 last quarter. Ramirez Asset Management Inc. bought a new position in Bunge Global in the third quarter valued at approximately $54,000. Finally, First Manhattan CO. LLC. bought a new position in Bunge Global in the first quarter valued at approximately $48,000. 86.23% of the stock is owned by institutional investors.

Bunge Global Trading Up 1.4 %

Shares of NYSE:BG opened at $105.42 on Thursday. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $97.07 and its 200 day simple moving average is $99.86. The firm has a market cap of $14.86 billion, a price-to-earnings ratio of 7.08 and a beta of 0.64.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays reduced their price objective on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and cut their target price for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Robert W. Baird cut their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. BMO Capital Markets cut their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, The Goldman Sachs Group cut their target price on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Bunge Global Profile

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.