Sumitomo Mitsui Trust Holdings Inc. Lowers Position in Bunge Global SA (NYSE:BG)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Bunge Global SA (NYSE:BG) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 432,118 shares of the basic materials company’s stock after selling 15,619 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Bunge Global were worth $43,622,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BG. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Bunge Global by 12.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,858 shares of the basic materials company’s stock worth $1,979,000 after buying an additional 1,994 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Bunge Global during the first quarter valued at $494,000. Yousif Capital Management LLC raised its stake in Bunge Global by 6.5% during the first quarter. Yousif Capital Management LLC now owns 8,767 shares of the basic materials company’s stock valued at $971,000 after purchasing an additional 535 shares in the last quarter. Prudential PLC purchased a new stake in Bunge Global during the first quarter valued at $530,000. Finally, Vanguard Group Inc. raised its stake in Bunge Global by 5.2% during the first quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock valued at $1,563,069,000 after purchasing an additional 696,806 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 2.9 %

NYSE BG opened at $109.55 on Friday. The company’s 50-day moving average price is $97.89 and its 200-day moving average price is $99.92. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The stock has a market cap of $15.45 billion, a PE ratio of 7.36 and a beta of 0.64. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59.

Bunge Global (NYSE:BG) last posted its quarterly earnings results 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. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.24 earnings per share. Equities research analysts forecast that Bunge Global SA will post 9.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 23rd. Barclays decreased their price target 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 price objective for the company from $122.00 to $105.00 in a research report on Friday, February 9th. Wolfe Research cut shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, BMO Capital Markets cut their price objective on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.