Handelsbanken Fonder AB Sells 2,500 Shares of Bunge Global SA (NYSE:BG)

Handelsbanken Fonder AB lessened its holdings in shares of Bunge Global SA (NYSE:BG) by 8.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,300 shares of the basic materials company’s stock after selling 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Bunge Global were worth $2,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management bought a new stake in Bunge Global during the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bunge Global during the third quarter valued at approximately $34,000. Crews Bank & Trust bought a new stake in Bunge Global during the 4th quarter valued at $39,000. Farther Finance Advisors LLC raised its holdings in shares of Bunge Global by 40.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Bunge Global in the fourth quarter worth approximately $45,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Bunge Global Price Performance

Bunge Global stock opened at $74.22 on Wednesday. The firm has a market capitalization of $9.94 billion, a P/E ratio of 9.19, a PEG ratio of 2.66 and a beta of 0.69. Bunge Global SA has a one year low of $67.40 and a one year 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 business has a fifty day moving average price of $76.02 and a 200-day moving average price of $86.80.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. As a group, equities research analysts forecast that Bunge Global SA will post 7.94 EPS 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.