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

Desjardins Global Asset Management Inc. lowered its position in Bunge Global SA (NYSE:BG) by 46.5% in the 4th quarter, according to its most recent 13F filing with the SEC. 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.

Several other institutional investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. bought a new position in shares of Bunge Global in the 4th quarter worth approximately $262,000. SVB Wealth LLC raised its position in shares of Bunge Global by 14.0% in the 4th quarter. SVB Wealth LLC now owns 2,127 shares of the basic materials company’s stock worth $215,000 after acquiring an additional 262 shares in the last quarter. Capital Analysts LLC increased its position in Bunge Global by 1.4% during the 4th quarter. Capital Analysts LLC now owns 88,102 shares of the basic materials company’s stock valued at $8,894,000 after buying an additional 1,220 shares in the last quarter. Strs Ohio increased its position in Bunge Global by 1.5% during the 4th quarter. Strs Ohio now owns 263,339 shares of the basic materials company’s stock valued at $26,584,000 after buying an additional 3,905 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in Bunge Global by 51.9% during the 4th quarter. Vontobel Holding Ltd. now owns 19,575 shares of the basic materials company’s stock valued at $1,976,000 after buying an additional 6,687 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of analyst reports. Citigroup raised their price objective on Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. The Goldman Sachs Group reduced their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Robert W. Baird reduced their target price on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. Finally, HSBC raised Bunge Global from a “hold” rating to a “buy” rating and reduced their target price for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.44.

Bunge Global Stock Performance

BG stock opened at $106.51 on Friday. The company 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 1 year low of $86.10 and a 1 year high of $116.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. The stock’s fifty day moving average price is $97.47 and its 200-day moving average price is $99.90.

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

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.