Bunge Global SA (NYSE:BG) Shares Sold by abrdn plc

abrdn plc lessened its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 587,093 shares of the basic materials company's stock after selling 21,744 shares during the period. abrdn plc owned about 0.42% of Bunge Global worth $45,324,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Bunge Global by 40.1% during the 3rd 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 in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Bunge Global by 0.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company's stock worth $2,305,000 after buying an additional 144 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Bunge Global by 3.7% during the third quarter. V Square Quantitative Management LLC now owns 4,367 shares of the basic materials company's stock valued at $422,000 after purchasing an additional 156 shares during the last quarter. Caprock Group LLC grew its stake in shares of Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company's stock valued at $722,000 after buying an additional 164 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Bunge Global by 31.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company's stock worth $68,000 after purchasing an additional 166 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Up 0.5 %

Shares of NYSE BG traded up $0.32 during midday trading on Friday, reaching $69.61. The company had a trading volume of 1,612,915 shares, compared to its average volume of 1,631,976. The stock has a market cap of $9.72 billion, a PE ratio of 8.62 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The firm's fifty day moving average price is $79.34 and its 200-day moving average price is $89.72. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, equities research analysts anticipate that Bunge Global SA will post 7.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BG shares. Barclays lowered their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday. Stephens cut their target price on shares of 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, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $107.00.

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.