Sumitomo Mitsui Trust Group Inc. Sells 89,192 Shares of Bunge Global SA (NYSE:BG)

Sumitomo Mitsui Trust Group Inc. decreased its position in Bunge Global SA (NYSE:BG) by 19.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 360,834 shares of the basic materials company’s stock after selling 89,192 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bunge Global were worth $28,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB grew its holdings in shares of Bunge Global by 59.3% during the 3rd quarter. AMF Tjanstepension AB now owns 106,384 shares of the basic materials company’s stock worth $10,281,000 after acquiring an additional 39,600 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Bunge Global during the third quarter valued at approximately $1,167,000. Swedbank AB grew its stake in Bunge Global by 11.9% in the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after purchasing an additional 15,241 shares during the period. Vontobel Holding Ltd. raised its holdings in Bunge Global by 30.1% in the third quarter. Vontobel Holding Ltd. now owns 15,329 shares of the basic materials company’s stock worth $1,481,000 after purchasing an additional 3,548 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of Bunge Global by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 10,000 shares of the basic materials company’s stock valued at $966,000 after buying an additional 8,000 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Price Performance

Shares of NYSE BG opened at $70.02 on Wednesday. The firm has a market cap of $9.78 billion, a P/E ratio of 8.67 and a beta of 0.69. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $78.57 and a 200 day moving average of $88.94.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. As a group, research analysts expect that Bunge Global SA will post 7.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Bank of America decreased their price target 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. Stephens lowered their target price on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Barclays cut their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bunge Global currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

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.