Allspring Global Investments Holdings LLC Lowers Stake in Bunge Global SA (NYSE:BG)

Allspring Global Investments Holdings LLC cut its holdings in shares of Bunge Global SA (NYSE:BG) by 2.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,478 shares of the basic materials company’s stock after selling 1,333 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bunge Global were worth $5,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new position in Bunge Global during the fourth quarter worth $128,092,000. LSV Asset Management lifted its stake in Bunge Global by 86.8% in the 4th quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock valued at $144,435,000 after buying an additional 664,632 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Bunge Global by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after buying an additional 578,065 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Bunge Global during the 1st quarter worth approximately $26,817,000. Finally, Franklin Resources Inc. lifted its position in shares of Bunge Global by 320.0% in the fourth quarter. Franklin Resources Inc. now owns 244,648 shares of the basic materials company’s stock valued at $24,708,000 after acquiring an additional 186,395 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 0.3 %

Shares of Bunge Global stock opened at $101.38 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $104.81 and its 200-day simple moving average is $102.46. The stock has a market cap of $14.35 billion, a P/E ratio of 8.16 and a beta of 0.67. Bunge Global SA has a 1-year low of $86.10 and a 1-year high of $115.84.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). The company had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period last year, the firm posted $3.72 EPS. Analysts predict that Bunge Global SA will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.