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

Handelsbanken Fonder AB trimmed its stake in Bunge Global SA (NYSE:BG) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

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

Bunge Global Stock Performance

Shares of NYSE BG opened at $74.22 on Wednesday. The stock’s fifty day moving average price is $76.02 and its two-hundred day moving average price is $86.80. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 9.19, a P/E/G 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.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Analysts Set New Price Targets

BG has been the subject of several research analyst reports. Barclays reduced their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Stephens reduced their price objective on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Bank of America dropped their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.