Bunge Global SA $BG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Bunge Global SA (NYSE:BG) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 405,810 shares of the basic materials company’s stock after selling 31,832 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Bunge Global worth $32,972,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Bunge Global in the 2nd quarter valued at about $149,380,000. Ilex Capital Partners UK LLP increased its stake in shares of Bunge Global by 383.7% in the second quarter. Ilex Capital Partners UK LLP now owns 891,673 shares of the basic materials company’s stock valued at $71,584,000 after purchasing an additional 707,336 shares during the period. Voya Investment Management LLC raised its holdings in shares of Bunge Global by 719.2% during the third quarter. Voya Investment Management LLC now owns 303,928 shares of the basic materials company’s stock valued at $24,694,000 after buying an additional 266,827 shares during the last quarter. Moore Capital Management LP acquired a new position in shares of Bunge Global during the second quarter worth approximately $12,463,000. Finally, AE Wealth Management LLC boosted its position in shares of Bunge Global by 1,596.3% during the second quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock worth $13,162,000 after buying an additional 154,279 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

BG has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Citigroup reissued a “buy” rating on shares of Bunge Global in a report on Tuesday, December 2nd. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Thursday, November 6th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, Bank of America raised their target price on shares of Bunge Global from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $109.78.

Bunge Global Price Performance

NYSE:BG opened at $107.83 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $94.48 and its 200 day moving average price is $87.25. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $108.84. The firm has a market cap of $20.85 billion, a P/E ratio of 11.61, a PEG ratio of 1.65 and a beta of 0.78.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. Bunge Global’s revenue was up 71.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 EPS. As a group, sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the sale, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.