Daiwa Securities Group Inc. Has $2.77 Million Holdings in Bunge Global SA (NYSE:BG)

Daiwa Securities Group Inc. cut its stake in shares of Bunge Global SA (NYSE:BG) by 7.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,452 shares of the basic materials company’s stock after selling 2,124 shares during the period. Daiwa Securities Group Inc.’s holdings in Bunge Global were worth $2,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bunge Global by 3.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,283 shares of the basic materials company’s stock valued at $6,086,000 after purchasing an additional 1,907 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Bunge Global during the fourth quarter valued at approximately $262,000. SVB Wealth LLC grew its position in Bunge Global by 14.0% during the fourth quarter. SVB Wealth LLC now owns 2,127 shares of the basic materials company’s stock valued at $215,000 after purchasing an additional 262 shares in the last quarter. Capital Analysts LLC grew its position in Bunge Global by 1.4% during the fourth quarter. Capital Analysts LLC now owns 88,102 shares of the basic materials company’s stock valued at $8,894,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Strs Ohio grew its position in Bunge Global by 1.5% during the fourth quarter. Strs Ohio now owns 263,339 shares of the basic materials company’s stock valued at $26,584,000 after purchasing an additional 3,905 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BG shares. Roth Mkm lowered their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. StockNews.com downgraded shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup boosted their target price on shares of Bunge Global from $108.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Finally, BMO Capital Markets decreased their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.44.

Bunge Global Price Performance

NYSE BG opened at $109.52 on Monday. 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 company has a fifty day simple moving average of $97.89 and a 200 day simple moving average of $99.85. The company has a market cap of $15.44 billion, a P/E ratio of 7.36 and a beta of 0.64. Bunge Global SA has a 1 year low of $86.10 and a 1 year high of $116.59.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.89. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. Bunge Global’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.24 EPS. On average, sell-side analysts predict that Bunge Global SA will post 9.26 EPS 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.