Dai ichi Life Insurance Company Ltd Reduces Holdings in Bunge Global SA (NYSE:BG)

Dai ichi Life Insurance Company Ltd reduced its position in Bunge Global SA (NYSE:BG) by 6.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,448 shares of the basic materials company’s stock after selling 1,880 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Bunge Global were worth $2,717,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Bunge Global by 52.3% in the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 102 shares during the period. Farmers & Merchants Investments Inc. grew its position in Bunge Global by 185.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Bunge Global during the 2nd quarter worth $40,000. Atlas Capital Advisors LLC lifted its stake in shares of Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 277 shares during the period. Finally, Riverview Trust Co purchased a new stake in Bunge Global in the 1st quarter valued at approximately $46,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bunge Global Price Performance

Shares of NYSE:BG opened at $97.38 on Monday. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $115.84. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 7.84 and a beta of 0.65. The business’s 50 day simple moving average is $102.83 and its 200-day simple moving average is $102.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.06). The firm had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period last year, the company posted $3.72 EPS. As a group, equities analysts forecast that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

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.