Handelsbanken Fonder AB Reduces Position in Bunge Global SA $BG

Handelsbanken Fonder AB trimmed its position in Bunge Global SA (NYSE:BG) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,900 shares of the basic materials company’s stock after selling 2,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Bunge Global were worth $1,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Bunge Global by 4,175.0% in the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 334 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Bunge Global during the 2nd quarter valued at approximately $29,000. Manchester Capital Management LLC lifted its holdings in Bunge Global by 588.5% in the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock worth $32,000 after buying an additional 359 shares during the period. SVB Wealth LLC bought a new stake in shares of Bunge Global in the 1st quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Bunge Global by 197.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock valued at $39,000 after buying an additional 341 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BG has been the subject of a number of research analyst reports. CICC Research raised their price target on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Stephens boosted their price target on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Morgan Stanley set a $95.00 price objective on Bunge Global in a research report on Monday, October 27th. Finally, BMO Capital Markets increased their target price on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.88.

Bunge Global Stock Performance

Shares of BG opened at $96.62 on Thursday. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The stock has a market cap of $18.68 billion, a P/E ratio of 9.65, a P/E/G ratio of 8.28 and a beta of 0.76. The business’s 50 day moving average price is $90.04 and its 200-day moving average price is $83.62. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $99.55.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 71.6% compared to the same quarter last year. Equities research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Christos Dimopoulos sold 25,300 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the transaction, the vice president owned 104,537 shares in the company, valued at $9,865,156.69. The trade was a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

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.