Bunge Global SA (NYSE:BG) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its position in shares of Bunge Global SA (NYSE:BG) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,681 shares of the basic materials company’s stock after selling 1,403 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Bunge Global were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC grew its holdings in Bunge Global by 18.2% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 319,121 shares of the basic materials company’s stock valued at $24,815,000 after purchasing an additional 49,046 shares during the period. Cibc World Markets Corp raised its stake in shares of Bunge Global by 13.8% during the 4th quarter. Cibc World Markets Corp now owns 54,865 shares of the basic materials company’s stock worth $4,266,000 after buying an additional 6,642 shares during the period. Greenwich Wealth Management LLC lifted its position in shares of Bunge Global by 0.5% during the 4th quarter. Greenwich Wealth Management LLC now owns 47,713 shares of the basic materials company’s stock valued at $3,710,000 after buying an additional 255 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Bunge Global by 277.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,511 shares of the basic materials company’s stock valued at $6,183,000 after acquiring an additional 58,465 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in Bunge Global by 15.3% in the 4th quarter. Moors & Cabot Inc. now owns 7,532 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 1,000 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

Bunge Global stock opened at $74.57 on Tuesday. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The firm has a 50 day simple moving average of $74.77 and a 200-day simple moving average of $84.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share 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, analysts expect that Bunge Global SA will post 7.94 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on BG shares. Morgan Stanley cut 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. Stephens decreased their target price on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Bank of America reduced their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Barclays reduced their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

About Bunge Global

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.