Jennison Associates LLC Cuts Stock Position in Bunge Global SA (NYSE:BG)

Jennison Associates LLC trimmed its position in shares of Bunge Global SA (NYSE:BG) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,433 shares of the basic materials company’s stock after selling 936 shares during the quarter. Jennison Associates LLC owned about 0.06% of Bunge Global worth $6,021,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position 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 valued at $681,467,000 after acquiring an additional 500,897 shares during the last quarter. Geode Capital Management LLC lifted 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 valued at $329,697,000 after purchasing an additional 45,159 shares during the last quarter. Pacer Advisors Inc. boosted 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 purchasing an additional 2,934,656 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Bunge Global by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after buying an additional 50,615 shares during the last quarter. Finally, abrdn plc increased its position in Bunge Global by 2.0% during the 3rd quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock valued at $58,990,000 after buying an additional 11,808 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BG has been the subject of several recent analyst reports. Stephens lowered their price target on Bunge Global from $110.00 to $105.00 in a report on Monday. Barclays cut shares of Bunge Global from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $115.00 to $95.00 in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.83.

Bunge Global Price Performance

Shares of NYSE BG opened at $69.82 on Thursday. Bunge Global SA has a 52 week low of $69.73 and a 52 week high of $114.92. The business’s 50 day moving average price is $80.13 and its 200 day moving average price is $90.31. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $9.75 billion, a P/E ratio of 8.84 and a beta of 0.69.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.11% and a return on equity of 13.71%. On average, sell-side analysts expect that Bunge Global SA will post 9.35 earnings per share for the current year.

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.