Meeder Asset Management Inc. Trims Stock Position in Bunge Global SA (NYSE:BG)

Meeder Asset Management Inc. trimmed its holdings in Bunge Global SA (NYSE:BG) by 44.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,946 shares of the basic materials company’s stock after selling 30,060 shares during the quarter. Meeder Asset Management Inc.’s holdings in Bunge Global were worth $2,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BG. Franklin Resources Inc. boosted its stake in shares of Bunge Global by 16.9% in the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after buying an additional 39,646 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Bunge Global by 7.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 278 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Bunge Global by 39.6% during the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock worth $1,665,000 after purchasing an additional 6,077 shares during the period. iA Global Asset Management Inc. acquired a new stake in shares of Bunge Global during the 3rd quarter worth approximately $888,000. Finally, State Street Corp lifted its stake in shares of Bunge Global by 7.6% in the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after purchasing an additional 500,897 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BG has been the subject of a number of recent analyst reports. Bank of America cut their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Stephens reduced their price target on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Barclays dropped their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley reduced their target price on 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. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Bunge Global Stock Performance

NYSE BG opened at $76.49 on Monday. 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 stock’s 50 day simple moving average is $73.86 and its 200-day simple moving average is $82.89. The company has a market cap of $10.25 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS 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.