Bunge Global SA (NYSE:BG) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. decreased its position in Bunge Global SA (NYSE:BG) by 6.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,562 shares of the basic materials company’s stock after selling 300 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bunge Global were worth $487,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BG. Old West Investment Management LLC boosted its position in shares of Bunge Global by 3.9% in the 2nd quarter. Old West Investment Management LLC now owns 112,554 shares of the basic materials company’s stock worth $12,017,000 after buying an additional 4,240 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bunge Global by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after purchasing an additional 121,080 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Bunge Global by 17.9% in the second quarter. Envestnet Asset Management Inc. now owns 125,647 shares of the basic materials company’s stock valued at $13,415,000 after purchasing an additional 19,095 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Bunge Global during the 2nd quarter worth approximately $302,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Bunge Global by 4.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 42,832 shares of the basic materials company’s stock worth $4,660,000 after purchasing an additional 1,919 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 1.6 %

BG stock opened at $98.80 on Friday. Bunge Global SA has a one year low of $86.10 and a one year high of $114.92. The stock has a market capitalization of $13.99 billion, a P/E ratio of 7.95 and a beta of 0.65. The company has a 50 day moving average price of $101.85 and a two-hundred day moving average price of $102.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the prior year, the firm earned $3.72 EPS. Bunge Global’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Bunge Global SA will post 9.3 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

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.