Nikko Asset Management Americas Inc. Decreases Stock Position in Bunge Global SA (NYSE:BG)

Nikko Asset Management Americas Inc. decreased its stake in shares of Bunge Global SA (NYSE:BG) by 15.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,681 shares of the basic materials company’s stock after selling 1,403 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Bunge Global were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Spire Wealth Management acquired a new position in shares of Bunge Global during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bunge Global during the 3rd quarter worth about $34,000. Crews Bank & Trust purchased a new position in shares of Bunge Global in the 4th quarter valued at about $39,000. R Squared Ltd acquired a new stake in shares of Bunge Global during the 4th quarter worth about $45,000. Finally, Financial Perspectives Inc lifted its stake in Bunge Global by 585.0% during the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 585 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of NYSE:BG opened at $74.57 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92. The company has a 50-day simple moving average of $74.77 and a 200-day simple moving average of $84.44. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG) last posted its quarterly earnings data 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%. On average, analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BG shares. Barclays cut 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 report on Thursday, February 6th. Bank of America dropped their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley reduced their target price on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Finally, Stephens cut their price target on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Three 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.