Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in Bunge Global SA (NYSE:BG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Bunge Global SA (NYSE:BG) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,769 shares of the basic materials company’s stock after purchasing an additional 445 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Bunge Global were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management bought a new stake in Bunge Global in the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bunge Global in the 3rd quarter worth $34,000. Farther Finance Advisors LLC grew its holdings in shares of Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares during the period. Crews Bank & Trust purchased a new stake in Bunge Global during the fourth quarter valued at $39,000. Finally, R Squared Ltd bought a new position in Bunge Global in the fourth quarter valued at about $45,000. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Up 1.2 %

Shares of BG stock opened at $70.02 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.10. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92. The company’s fifty day moving average price is $78.57 and its 200-day moving average price is $88.94. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 8.67 and a beta of 0.69.

Bunge Global (NYSE:BG) last issued its quarterly earnings results 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 return on equity of 11.73% and a net margin of 2.14%. Sell-side analysts expect that Bunge Global SA will post 7.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BG has been the subject of several research reports. Stephens reduced their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Morgan Stanley dropped their price target 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. Barclays reduced their price objective on 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. Finally, Bank of America lowered their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and a consensus target price of $98.50.

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.