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

Ninety One UK Ltd cut its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,016 shares of the basic materials company's stock after selling 7,739 shares during the period. 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 added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its stake in Bunge Global by 169.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company's stock valued at $25,000 after buying an additional 146 shares during the last quarter. Pinnacle Holdings LLC purchased a new stake in Bunge Global during the 1st quarter valued at $36,000. Rise Advisors LLC raised its stake in Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company's stock valued at $41,000 after buying an additional 117 shares during the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of Bunge Global during the 3rd quarter valued at $54,000. Finally, First Manhattan CO. LLC. bought a new stake in shares of Bunge Global during the 1st quarter valued at $48,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

BG stock traded up $3.04 during mid-day trading on Friday, hitting $109.55. The company had a trading volume of 2,624,544 shares, compared to its average volume of 1,741,557. The company has a market capitalization of $15.45 billion, a price-to-earnings 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. 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 has a 50-day moving average price of $97.89 and a 200 day moving average price of $99.92.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly 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. The business 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.24 EPS. On average, research analysts anticipate that Bunge Global SA will post 9.36 earnings per share for the current year.

Analysts Set New Price Targets

BG has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Bunge Global from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, January 23rd. StockNews.com downgraded shares of Bunge Global from a "buy" rating to a "hold" rating in a research report on Monday, February 26th. BMO Capital Markets cut their price objective 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. Roth Mkm cut their price objective on shares of Bunge Global from $161.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, February 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Bunge Global from $141.00 to $126.00 and set a "buy" rating for the company in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.