Allspring Global Investments Holdings LLC Sells 2,508 Shares of Bunge Global SA (NYSE:BG)

Allspring Global Investments Holdings LLC reduced its stake in shares of Bunge Global SA (NYSE:BG) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,937 shares of the basic materials company’s stock after selling 2,508 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bunge Global were worth $3,641,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management bought a new stake in shares of Bunge Global during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bunge Global during the third quarter valued at approximately $34,000. Farther Finance Advisors LLC grew its stake in shares of Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 124 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Bunge Global during the fourth quarter valued at approximately $39,000. Finally, R Squared Ltd bought a new stake in shares of Bunge Global during the fourth quarter valued at approximately $45,000. 86.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Bunge Global Trading Up 1.4 %

Shares of NYSE BG opened at $71.19 on Friday. The company’s fifty day moving average is $76.49 and its 200-day moving average is $87.40. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 2.54 and a beta of 0.69. Bunge Global SA has a twelve month low of $67.40 and a twelve month 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 announced its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

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.