Norges Bank Buys Shares of 1,914,313 Bunge Global SA (NYSE:BG)

Norges Bank acquired a new position in Bunge Global SA (NYSE:BG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,914,313 shares of the basic materials company’s stock, valued at approximately $148,857,000. Norges Bank owned about 1.37% of Bunge Global as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Spire Wealth Management acquired a new position in Bunge Global during the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Bunge Global during the third quarter valued at $34,000. Crews Bank & Trust purchased a new stake in Bunge Global in the fourth quarter valued at $39,000. R Squared Ltd purchased a new position in shares of Bunge Global during the 4th quarter valued at about $45,000. Finally, Financial Perspectives Inc raised its position in Bunge Global by 585.0% during the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 585 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Up 0.1 %

Shares of NYSE BG opened at $76.52 on Tuesday. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $73.80 and its 200-day simple moving average is $82.75. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Equities analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Barclays cut their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Stephens lowered their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Bank of America dropped their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Bunge Global 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.