Guggenheim Capital LLC Reduces Holdings in Bunge Global SA (NYSE:BG)

Guggenheim Capital LLC trimmed its position in Bunge Global SA (NYSE:BG - Free Report) by 41.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,357 shares of the basic materials company's stock after selling 19,414 shares during the quarter. Guggenheim Capital LLC's holdings in Bunge Global were worth $2,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Bunge Global by 3.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock valued at $351,000 after acquiring an additional 170 shares during the period. Deseret Mutual Benefit Administrators grew its stake in Bunge Global by 25.4% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock valued at $68,000 after purchasing an additional 178 shares during the last quarter. Allworth Financial LP raised its holdings in Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock worth $62,000 after purchasing an additional 194 shares in the last quarter. Abbot Financial Management Inc. lifted its position in shares of Bunge Global by 0.9% during the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock valued at $1,786,000 after buying an additional 205 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Bunge Global by 15.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,655 shares of the basic materials company's stock valued at $129,000 after buying an additional 225 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

NYSE:BG traded down $0.25 during trading hours on Wednesday, reaching $79.84. The company had a trading volume of 1,259,732 shares, compared to its average volume of 1,583,608. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The business's 50 day moving average price is $74.31 and its 200-day moving average price is $80.24. The firm has a market cap of $10.70 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59.

Bunge Global (NYSE:BG - Get Free Report) last posted its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stephens decreased their price objective on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Barclays dropped their price target on 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. Bank of America lowered their target price on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Citigroup increased their price objective on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Three investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.60.

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.