Desjardins Global Asset Management Inc. Lowers Stake in Bunge Global SA (NYSE:BG)

Desjardins Global Asset Management Inc. lowered its stake in shares of Bunge Global SA (NYSE:BG) by 46.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,466 shares of the basic materials company’s stock after selling 1,273 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Bunge Global were worth $148,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BG. State Street Corp increased its position in shares of Bunge Global by 77.5% during the first quarter. State Street Corp now owns 6,814,463 shares of the basic materials company’s stock worth $650,918,000 after purchasing an additional 2,975,929 shares in the last quarter. Norges Bank acquired a new position in shares of Bunge Global in the 4th quarter valued at $186,143,000. Geode Capital Management LLC increased its position in shares of Bunge Global by 59.8% in the 1st quarter. Geode Capital Management LLC now owns 3,100,158 shares of the basic materials company’s stock valued at $295,462,000 after acquiring an additional 1,159,939 shares during the period. Vanguard Group Inc. increased its position in shares of Bunge Global by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock valued at $1,563,069,000 after acquiring an additional 696,806 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Bunge Global in the 1st quarter valued at $74,642,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BG has been the topic of several research reports. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and cut their target price for the company from $122.00 to $105.00 in a research report on Friday, February 9th. Robert W. Baird decreased their price objective on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. BMO Capital Markets decreased their price objective on Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Barclays decreased their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Finally, Roth Mkm decreased their price objective on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.44.

Bunge Global Price Performance

NYSE:BG opened at $106.51 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $97.47 and a two-hundred day moving average of $99.90. The firm has a market cap of $15.02 billion, a P/E ratio of 7.15 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.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.89. The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.24 earnings per share. On average, analysts expect that Bunge Global SA will post 9.36 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.