KLP Kapitalforvaltning AS Invests $8.07 Million in Bunge Global SA (NYSE:BG)

KLP Kapitalforvaltning AS acquired a new stake in shares of Bunge Global SA (NYSE:BG) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 103,499 shares of the basic materials company’s stock, valued at approximately $8,067,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of Bunge Global by 16.9% during the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock valued at $26,371,000 after purchasing an additional 39,646 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Bunge Global by 7.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock valued at $302,000 after buying an additional 278 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Bunge Global by 39.6% during the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock worth $1,665,000 after buying an additional 6,077 shares during the period. iA Global Asset Management Inc. bought a new stake in Bunge Global during the 3rd quarter worth approximately $888,000. Finally, State Street Corp increased its position in Bunge Global by 7.6% in 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. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

BG stock opened at $72.72 on Tuesday. The firm has a market cap of $9.74 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $74.26 and a 200-day moving average price of $83.52. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share 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%. As a group, equities research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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