Allspring Global Investments Holdings LLC Cuts Stake in Bunge Global SA (NYSE:BG)

Allspring Global Investments Holdings LLC reduced its stake in shares of Bunge Global SA (NYSE:BG) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,736 shares of the basic materials company’s stock after selling 21,813 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bunge Global were worth $6,535,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BG. Loomis Sayles & Co. L P lifted its holdings in shares of Bunge Global by 169.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 146 shares during the period. Pinnacle Holdings LLC purchased a new position in Bunge Global in the first quarter valued at approximately $36,000. Rise Advisors LLC raised its holdings in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after buying an additional 117 shares during the period. First Manhattan CO. LLC. purchased a new position in Bunge Global in the first quarter valued at approximately $48,000. Finally, Ramirez Asset Management Inc. purchased a new position in Bunge Global in the third quarter valued at approximately $54,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BG shares. StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Robert W. Baird cut their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Roth Mkm cut their price target on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, February 5th. The Goldman Sachs Group cut their price target on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Finally, Citigroup increased their price objective on shares of Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Bunge Global has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Bunge Global Stock Up 1.0 %

BG stock opened at $106.51 on Friday. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $116.59. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $15.02 billion, a P/E ratio of 7.15 and a beta of 0.64. The firm has a 50 day simple moving average of $97.47 and a 200-day simple moving average of $99.90.

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

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.