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

The Manufacturers Life Insurance Company reduced its position in Bunge Global SA (NYSE:BG - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 about 0.11% of Bunge Global worth $12,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BG. FMR LLC raised its holdings in shares of Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock valued at $269,488,000 after purchasing an additional 699,889 shares during the period. Geode Capital Management LLC raised its stake in Bunge Global by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company's stock worth $268,205,000 after buying an additional 34,890 shares during the period. Invesco Ltd. boosted its holdings in Bunge Global by 28.6% in the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after acquiring an additional 713,561 shares in the last quarter. Pacer Advisors Inc. grew its stake in Bunge Global by 13,459.9% in the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company's stock valued at $229,894,000 after acquiring an additional 2,934,656 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bunge Global by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company's stock valued at $193,379,000 after acquiring an additional 183,701 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of BG traded up $0.40 during mid-day trading on Thursday, hitting $76.30. The stock had a trading volume of 2,048,446 shares, compared to its average volume of 1,591,494. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The firm has a market cap of $10.22 billion, a P/E ratio of 9.44, 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. The business has a fifty day moving average price of $75.84 and a 200-day moving average price of $79.09.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BG shares. Citigroup raised their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Bank of America reduced their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Stephens cut their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday. Morgan Stanley cut their price objective on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Finally, Barclays decreased their target price on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bunge Global has an average 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.