Levin Capital Strategies L.P. Sells 1,500 Shares of Bunge Global SA (NYSE:BG)

Levin Capital Strategies L.P. lowered its holdings in Bunge Global SA (NYSE:BG) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,605 shares of the basic materials company’s stock after selling 1,500 shares during the period. Levin Capital Strategies L.P.’s holdings in Bunge Global were worth $465,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Natixis Advisors L.P. boosted its stake in Bunge Global by 126.1% in the 4th quarter. Natixis Advisors L.P. now owns 27,400 shares of the basic materials company’s stock worth $2,766,000 after purchasing an additional 15,283 shares during the period. Victory Capital Management Inc. boosted its position in shares of Bunge Global by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 106,863 shares of the basic materials company’s stock valued at $10,788,000 after acquiring an additional 11,355 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in Bunge Global by 680.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,340 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 2,040 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Bunge Global by 20.9% during the 4th quarter. Russell Investments Group Ltd. now owns 62,394 shares of the basic materials company’s stock worth $6,304,000 after acquiring an additional 10,797 shares during the period. Finally, Truist Financial Corp lifted its stake in Bunge Global by 146.4% in the 4th quarter. Truist Financial Corp now owns 63,366 shares of the basic materials company’s stock worth $6,397,000 after purchasing an additional 37,645 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

NYSE BG traded down $0.21 on Friday, reaching $101.15. 982,405 shares of the company’s stock traded hands, compared to its average volume of 1,736,497. The stock has a market cap of $14.32 billion, a PE ratio of 8.14 and a beta of 0.65. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The stock has a 50-day simple moving average of $100.24 and a 200 day simple moving average of $99.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.10.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.55 by $0.49. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.26 EPS. As a group, research analysts predict that Bunge Global SA will post 9.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays reduced their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, January 23rd. BMO Capital Markets decreased their target price on Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. The Goldman Sachs Group dropped their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Citigroup raised their target price on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.00.

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.