Meiji Yasuda Asset Management Co Ltd. Lowers Stock Position in Bunge Global SA (NYSE:BG)

Meiji Yasuda Asset Management Co Ltd. reduced its position in Bunge Global SA (NYSE:BG) by 6.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,562 shares of the basic materials company’s stock after selling 300 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bunge Global were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BG. Old West Investment Management LLC increased its stake in Bunge Global by 3.9% during the second quarter. Old West Investment Management LLC now owns 112,554 shares of the basic materials company’s stock worth $12,017,000 after acquiring an additional 4,240 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bunge Global by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock worth $243,664,000 after purchasing an additional 121,080 shares during the period. Envestnet Asset Management Inc. increased its position in Bunge Global by 17.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 125,647 shares of the basic materials company’s stock worth $13,415,000 after purchasing an additional 19,095 shares in the last quarter. CoreCap Advisors LLC purchased a new position in Bunge Global in the second quarter valued at approximately $302,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Bunge Global by 4.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 42,832 shares of the basic materials company’s stock valued at $4,660,000 after buying an additional 1,919 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Trading Down 1.6 %

BG opened at $98.80 on Friday. The firm’s 50 day moving average is $101.85 and its 200-day moving average is $102.95. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $114.92. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $13.99 billion, a P/E ratio of 7.95 and a beta of 0.65.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 14.84% and a net margin of 2.33%. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.72 EPS. Analysts expect that Bunge Global SA will post 9.3 EPS 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.