Forsta AP Fonden Increases Position in Bunge Global SA (NYSE:BG)

Forsta AP Fonden grew its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 23.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,500 shares of the basic materials company's stock after purchasing an additional 18,200 shares during the quarter. Forsta AP Fonden owned approximately 0.07% of Bunge Global worth $9,229,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Bunge Global by 24.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,915 shares of the basic materials company's stock valued at $1,458,000 after purchasing an additional 2,926 shares during the last quarter. BayBridge Capital Group LLC purchased a new position in shares of Bunge Global during the third quarter valued at approximately $1,060,000. Mediolanum International Funds Ltd raised its holdings in shares of Bunge Global by 212.0% during the third quarter. Mediolanum International Funds Ltd now owns 65,843 shares of the basic materials company's stock valued at $6,424,000 after acquiring an additional 44,742 shares in the last quarter. Canal Capital Management LLC lifted its stake in Bunge Global by 6.6% in the third quarter. Canal Capital Management LLC now owns 67,663 shares of the basic materials company's stock worth $6,539,000 after acquiring an additional 4,208 shares during the period. Finally, apricus wealth LLC boosted its holdings in Bunge Global by 3.9% in the third quarter. apricus wealth LLC now owns 21,307 shares of the basic materials company's stock valued at $2,059,000 after acquiring an additional 790 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Down 0.1 %

Shares of BG stock traded down $0.07 during mid-day trading on Monday, hitting $89.71. The company's stock had a trading volume of 100,076 shares, compared to its average volume of 1,486,200. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $114.92. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 7.23 and a beta of 0.64. The business has a 50-day moving average price of $96.72 and a 200 day moving average price of $102.29.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.06). The company had revenue of $13.24 billion for the quarter, compared to analysts' expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. Bunge Global's quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.72 earnings per share. Research analysts predict that Bunge Global SA will post 9.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of Bunge Global from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Bunge Global currently has an average rating of "Moderate Buy" and a consensus price target of $118.00.

About Bunge Global

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.