Bunge Global SA (NYSE:BG) Stock Position Lifted by DnB Asset Management AS

DnB Asset Management AS lifted its position in shares of Bunge Global SA (NYSE:BG) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,081 shares of the basic materials company’s stock after acquiring an additional 4,451 shares during the period. DnB Asset Management AS’s holdings in Bunge Global were worth $2,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BG. State Street Corp boosted its stake in 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 acquiring an additional 500,897 shares during the period. Geode Capital Management LLC boosted its position in Bunge Global by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock valued at $329,697,000 after purchasing an additional 45,159 shares during the period. Pacer Advisors Inc. grew its stake in Bunge Global by 13,459.9% during the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after buying an additional 2,934,656 shares during the last quarter. Amundi increased its position in Bunge Global by 24.9% in the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock worth $190,476,000 after buying an additional 490,153 shares during the period. Finally, Norges Bank bought a new stake in Bunge Global in the fourth quarter valued at $148,857,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Up 1.9 %

Bunge Global stock opened at $77.86 on Wednesday. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The stock has a market capitalization of $10.43 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. The firm has a 50 day simple moving average of $73.78 and a 200-day simple moving average of $82.61.

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 net margin of 2.14% and a return on equity of 11.73%. As a group, equities research analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Ratings Changes

BG has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Morgan Stanley dropped 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 research note on Tuesday, February 11th. Bank of America reduced their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Stephens lowered their target price on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.00.

About Bunge Global

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.