Bunge Global SA (NYSE:BG) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC reduced its holdings in Bunge Global SA (NYSE:BG) by 95.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,832 shares of the basic materials company’s stock after selling 94,335 shares during the quarter. Edge Capital Group LLC’s holdings in Bunge Global were worth $376,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BG. State Street Corp raised its stake in Bunge Global by 7.6% during the third 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. Geode Capital Management LLC increased its holdings in shares of Bunge Global by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock worth $329,697,000 after buying an additional 45,159 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of 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 buying an additional 2,934,656 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Bunge Global by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock valued at $139,608,000 after acquiring an additional 50,615 shares during the last quarter. Finally, abrdn plc grew its position in Bunge Global by 2.0% during the third quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock valued at $58,990,000 after acquiring an additional 11,808 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

Shares of NYSE:BG opened at $73.59 on Tuesday. The business’s 50-day simple moving average is $76.16 and its 200 day simple moving average is $86.96. The company has a market cap of $9.86 billion, a P/E ratio of 9.11, a PEG ratio of 2.66 and a beta of 0.69. 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 SA has a one year low of $67.40 and a one year high of $114.92.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) 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%. On average, sell-side analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on BG shares. Bank of America cut their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Barclays cut 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 report on Thursday, February 6th. Stephens decreased their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Morgan Stanley cut 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 research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average 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.