Voya Investment Management LLC Reduces Stock Holdings in Bunge Global SA (NYSE:BG)

Voya Investment Management LLC trimmed its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,075 shares of the basic materials company's stock after selling 5,206 shares during the period. Voya Investment Management LLC's holdings in Bunge Global were worth $3,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BG. Spire Wealth Management purchased a new position in shares of Bunge Global in the 4th quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bunge Global in the third quarter worth approximately $34,000. Crews Bank & Trust purchased a new stake in Bunge Global during the fourth quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in Bunge Global during the fourth quarter valued at approximately $45,000. Finally, Financial Perspectives Inc raised its position in Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company's stock worth $53,000 after acquiring an additional 585 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BG shares. Barclays cut their price objective on shares of 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. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Morgan Stanley decreased their price objective on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Bank of America cut their price objective on 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 decreased their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.60.

Bunge Global Price Performance

BG stock traded down $1.88 during mid-day trading on Wednesday, hitting $76.28. The company had a trading volume of 746,176 shares, compared to its average volume of 1,575,732. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a 50-day moving average price of $75.81 and a 200 day moving average price of $79.11. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92.

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