Norges Bank Takes $148.86 Million Position in Bunge Global SA (NYSE:BG)

Norges Bank bought a new position in shares of Bunge Global SA (NYSE:BG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,914,313 shares of the basic materials company's stock, valued at approximately $148,857,000. Norges Bank owned 1.37% of Bunge Global as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Bunge Global by 3.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock worth $351,000 after acquiring an additional 170 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Bunge Global by 25.4% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock valued at $68,000 after buying an additional 178 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock worth $62,000 after acquiring an additional 194 shares in the last quarter. Abbot Financial Management Inc. boosted its holdings in Bunge Global by 0.9% in the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock valued at $1,786,000 after purchasing an additional 205 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Bunge Global by 15.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,655 shares of the basic materials company's stock valued at $129,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BG shares. Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Barclays lowered their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, Bank of America reduced their target price on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Three research 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.00.

Bunge Global Stock Performance

Shares of Bunge Global stock traded down $4.90 on Friday, reaching $73.30. 2,439,327 shares of the company 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 price-to-earnings ratio of 9.07, a P/E/G ratio of 2.66 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The company's 50-day moving average is $73.69 and its two-hundred day moving average is $82.28.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data 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, research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal 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.