Bleakley Financial Group LLC Trims Stock Position in Bunge Global SA (NYSE:BG)

Bleakley Financial Group LLC reduced its holdings in Bunge Global SA (NYSE:BG) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,607 shares of the basic materials company’s stock after selling 2,103 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bunge Global were worth $3,080,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BG. Franklin Resources Inc. lifted its stake in Bunge Global by 16.9% in the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after purchasing an additional 39,646 shares during the last quarter. Swedbank AB increased its stake in shares of Bunge Global by 11.9% during the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock valued at $13,871,000 after purchasing an additional 15,241 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Bunge Global by 7.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock valued at $302,000 after buying an additional 278 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Bunge Global in the 3rd quarter worth about $888,000. Finally, State Street Corp lifted its stake in shares of Bunge Global by 7.6% in the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after buying an additional 500,897 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BG shares. Barclays dropped their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday. Stephens lowered their price target on Bunge Global from $110.00 to $105.00 in a report on Monday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bunge Global has an average rating of “Moderate Buy” and an average price target of $109.17.

Bunge Global Stock Performance

Shares of NYSE:BG opened at $69.16 on Friday. The firm has a fifty day simple moving average of $79.74 and a two-hundred day simple moving average of $90.16. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The stock has a market capitalization of $9.66 billion, a P/E ratio of 8.75 and a beta of 0.69.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.11% and a return on equity of 13.71%. On average, analysts expect that Bunge Global SA will post 9.35 earnings per share for the current fiscal year.

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.