ING Groep NV Decreases Stock Holdings in Bunge Global SA (NYSE:BG)

ING Groep NV cut its stake in Bunge Global SA (NYSE:BG) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,833 shares of the basic materials company’s stock after selling 1,111 shares during the period. ING Groep NV’s holdings in Bunge Global were worth $1,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Bunge Global by 40.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after buying an additional 124 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in Bunge Global by 0.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company’s stock worth $2,305,000 after acquiring an additional 144 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after purchasing an additional 164 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 166 shares during the last quarter. Finally, Patton Albertson Miller Group LLC increased its stake in shares of Bunge Global by 0.3% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 56,444 shares of the basic materials company’s stock worth $5,455,000 after purchasing an additional 188 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

Shares of NYSE:BG opened at $73.12 on Monday. The company has a market cap of $10.21 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.59 and a beta of 0.69. The business has a fifty day simple moving average of $76.30 and a 200-day simple moving average of $87.13. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last posted its quarterly earnings results 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 2.14% and a return on equity of 11.73%. Equities research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BG. Barclays reduced their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley reduced their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Bank of America dropped their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and an average target price of $93.00.

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.