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

DnB Asset Management AS increased its position in Bunge Global SA (NYSE:BG - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,081 shares of the basic materials company's stock after purchasing 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 hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC increased its stake in Bunge Global by 8.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,221 shares of the basic materials company's stock valued at $561,000 after purchasing an additional 538 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings 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 buying an additional 6,846 shares during the period. Norges Bank bought a new stake in shares of Bunge Global during the 4th quarter valued at about $148,857,000. NEOS Investment Management LLC raised its stake in Bunge Global by 25.9% during the fourth 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 holdings in Bunge Global by 36.7% in the fourth 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.

Bunge Global Stock Performance

BG stock traded down $4.90 during trading on Friday, reaching $73.30. 2,439,327 shares of the company's stock were exchanged, compared to its average volume of 1,573,326. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The firm has a market cap of $9.82 billion, a PE ratio of 9.07, a P/E/G ratio of 2.66 and a beta of 0.59. The company's fifty day moving average price is $73.69 and its 200-day moving average price is $82.17. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last announced its 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%. On average, research analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley dropped 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. Bank of America dropped their target price on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Stephens cut their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Barclays lowered their price target 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. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.