Bunge Global SA (NYSE:BG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Bunge Global SA (NYSE:BG) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 173,864 shares of the basic materials company’s stock after selling 3,354 shares during the quarter. Principal Financial Group Inc.’s holdings in Bunge Global were worth $13,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in Bunge Global by 13,459.9% in the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after purchasing an additional 2,934,656 shares during the period. Ilex Capital Partners UK LLP acquired a new position in Bunge Global in the 3rd quarter worth approximately $54,330,000. State Street Corp boosted its stake in 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 worth $681,467,000 after purchasing an additional 500,897 shares during the period. SG Americas Securities LLC boosted its stake in Bunge Global by 173.5% in the 4th quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company’s stock worth $23,537,000 after purchasing an additional 191,999 shares during the period. Finally, Mizuho Securities USA LLC boosted its stake in Bunge Global by 1,585.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 184,000 shares of the basic materials company’s stock worth $17,782,000 after purchasing an additional 173,082 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Trading Down 1.2 %

Shares of NYSE:BG opened at $73.35 on Thursday. The firm has a fifty day moving average of $75.90 and a two-hundred day moving average of $86.71. The firm has a market capitalization of $9.83 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. 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 (NYSE:BG) last released its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, equities analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America decreased their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Barclays decreased 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 note on Thursday, February 6th. Morgan Stanley decreased their target price on shares of 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. 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

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.