Ameriprise Financial Inc. Reduces Holdings in Bunge Global SA (NYSE:BG)

Ameriprise Financial Inc. decreased its holdings in Bunge Global SA (NYSE:BG) by 46.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 610,337 shares of the basic materials company’s stock after selling 527,780 shares during the quarter. Ameriprise Financial Inc. owned 0.44% of Bunge Global worth $47,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. raised its stake in Bunge Global by 9.5% during the 4th quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company’s stock worth $18,815,000 after acquiring an additional 20,942 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Bunge Global by 7.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after buying an additional 278 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Bunge Global by 39.6% in the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock worth $1,665,000 after buying an additional 6,077 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Bunge Global by 12.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company’s stock worth $2,935,000 after buying an additional 4,296 shares in the last quarter. Finally, Orca Wealth Management LLC purchased a new position in shares of Bunge Global in the fourth quarter worth $1,238,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 1.5%

Shares of BG opened at $77.40 on Monday. The company’s fifty day moving average is $76.05 and its 200 day moving average is $78.77. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The stock has a market capitalization of $10.40 billion, a PE ratio of 9.58, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.27 by $0.54. The company had revenue of $11.64 billion during 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%. Bunge Global’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. Sell-side analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on BG. Bank of America lowered their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley lowered their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Citigroup boosted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Stephens reduced their price target on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Barclays reduced their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bunge Global presently has an average rating of “Hold” and a consensus target price of $81.60.

Bunge Global Company 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.