Handelsbanken Fonder AB Has $2.88 Million Position in Bunge Global SA (NYSE:BG)

Handelsbanken Fonder AB lifted its holdings in Bunge Global SA (NYSE:BG) by 23.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,800 shares of the basic materials company’s stock after purchasing an additional 5,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Bunge Global were worth $2,880,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Czech National Bank increased its position in shares of Bunge Global by 6.9% during the third quarter. Czech National Bank now owns 28,855 shares of the basic materials company’s stock worth $2,789,000 after acquiring an additional 1,872 shares in the last quarter. AMF Tjanstepension AB boosted its stake in Bunge Global by 59.3% in the 3rd quarter. AMF Tjanstepension AB now owns 106,384 shares of the basic materials company’s stock worth $10,281,000 after purchasing an additional 39,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Bunge Global by 139.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,000 shares of the basic materials company’s stock worth $11,745,000 after purchasing an additional 64,150 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Bunge Global in the 2nd quarter valued at about $2,668,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Bunge Global by 2.1% in the second quarter. Cetera Investment Advisers now owns 19,101 shares of the basic materials company’s stock valued at $2,039,000 after purchasing an additional 402 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Stock Performance

Shares of NYSE BG opened at $98.23 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. The stock has a 50 day moving average price of $97.95 and a 200 day moving average price of $103.29. The stock has a market capitalization of $13.91 billion, a PE ratio of 7.91 and a beta of 0.64. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $114.92.

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

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.