Jennison Associates LLC Reduces Holdings in Bunge Global SA (NYSE:BG)

Jennison Associates LLC lowered its position in Bunge Global SA (NYSE:BG) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 77,433 shares of the basic materials company’s stock after selling 936 shares during the period. Jennison Associates LLC’s holdings in Bunge Global were worth $6,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BG. Franklin Resources Inc. lifted its stake in shares of Bunge Global by 16.9% in the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after buying an additional 39,646 shares in the last quarter. Swedbank AB lifted its stake in Bunge Global by 11.9% in the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after purchasing an additional 15,241 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Bunge Global by 7.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 278 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Bunge Global in the third quarter valued at approximately $888,000. Finally, State Street Corp increased its holdings in shares of Bunge Global by 7.6% in the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after purchasing an additional 500,897 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stephens cut their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday. Barclays cut shares of Bunge Global from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $115.00 to $95.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Bunge Global Stock Performance

NYSE BG opened at $69.82 on Thursday. The stock has a fifty day simple moving average of $80.13 and a 200-day simple moving average of $90.31. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock has a market cap of $9.75 billion, a PE ratio of 8.84 and a beta of 0.69. Bunge Global SA has a twelve month low of $69.73 and a twelve month high of $114.92.

Bunge Global (NYSE:BG) last announced its 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 return on equity of 13.71% and a net margin of 2.11%. Equities analysts anticipate that Bunge Global SA will post 9.35 earnings per share for the current 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.