Norges Bank Acquires New Shares in Bunge Global SA (NYSE:BG)

Norges Bank bought a new position in shares of Bunge Global SA (NYSE:BG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,914,313 shares of the basic materials company’s stock, valued at approximately $148,857,000.

Several other large investors have also modified their holdings of the business. State Street Corp boosted its holdings in Bunge Global by 7.6% during the 3rd 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 increased its stake 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 worth $329,697,000 after buying an additional 45,159 shares during the period. Pacer Advisors Inc. grew its stake in shares of Bunge Global by 13,459.9% in the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after acquiring an additional 2,934,656 shares in the last quarter. Amundi raised its position in Bunge Global by 24.9% in the 4th quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock valued at $190,476,000 after purchasing an additional 490,153 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bunge Global by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,502,083 shares of the basic materials company’s stock worth $116,802,000 after acquiring an additional 57,462 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG opened at $76.52 on Tuesday. 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 PE ratio of 9.47, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. 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 earnings results on Wednesday, February 5th. The basic materials company reported $2.13 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 analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Upgrades and Downgrades

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