Bunge Global SA (NYSE:BG) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS increased its position in shares of Bunge Global SA (NYSE:BG) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,081 shares of the basic materials company’s stock after acquiring an additional 4,451 shares during the quarter. DnB Asset Management AS’s holdings in Bunge Global were worth $2,650,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BG. Orion Portfolio Solutions LLC increased its stake in shares of Bunge Global by 8.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,221 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 538 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Bunge Global by 9.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 82,467 shares of the basic materials company’s stock valued at $6,413,000 after acquiring an additional 6,846 shares in the last quarter. Norges Bank acquired a new stake in shares of Bunge Global in the fourth quarter worth $148,857,000. NEOS Investment Management LLC raised its holdings in Bunge Global by 25.9% in the 4th quarter. NEOS Investment Management LLC now owns 6,018 shares of the basic materials company’s stock worth $468,000 after acquiring an additional 1,239 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its position in Bunge Global by 36.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 17,281 shares of the basic materials company’s stock worth $1,344,000 after acquiring an additional 4,639 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

BG opened at $77.86 on Wednesday. The stock has a market cap of $10.43 billion, a PE ratio of 9.64, a P/E/G ratio of 2.66 and a beta of 0.67. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The stock’s 50 day simple moving average is $73.78 and its 200-day simple moving average is $82.61. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last announced its quarterly 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 net margin of 2.14% and a return on equity of 11.73%. Sell-side analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BG shares. Barclays lowered their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley cut their price target on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Stephens lowered their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Bank of America cut 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. Three 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

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.