The Manufacturers Life Insurance Company Sells 7,895 Shares of Bunge Global SA (NYSE:BG)

The Manufacturers Life Insurance Company reduced its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,589 shares of the basic materials company's stock after selling 7,895 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of Bunge Global worth $12,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Bunge Global by 17.2% during the third quarter. Barclays PLC now owns 454,722 shares of the basic materials company's stock valued at $43,945,000 after buying an additional 66,681 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Bunge Global during the 3rd quarter valued at $34,000. Synovus Financial Corp raised its holdings in Bunge Global by 16.5% in the 3rd quarter. Synovus Financial Corp now owns 5,124 shares of the basic materials company's stock worth $495,000 after purchasing an additional 724 shares in the last quarter. Franklin Resources Inc. raised its holdings in Bunge Global by 16.9% in the 3rd 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 in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Bunge Global by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 177,218 shares of the basic materials company's stock worth $17,126,000 after purchasing an additional 4,733 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Bunge Global Stock Up 1.5 %

Shares of NYSE:BG traded up $1.13 on Friday, hitting $77.40. 1,822,860 shares of the company traded hands, compared to its average volume of 1,595,643. The stock has a 50 day simple moving average of $76.05 and a 200-day simple moving average of $78.85. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The company has a market cap of $10.37 billion, a PE ratio of 9.58, a PEG ratio of 2.66 and a beta of 0.68. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.54. The firm had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The business's revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. As a group, research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Wall Street Analyst Weigh In

BG has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Barclays lowered their target price on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Citigroup boosted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Bank of America decreased their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Stephens dropped their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $81.60.

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.