Handelsbanken Fonder AB Sells 2,400 Shares of Bunge Global SA $BG

Handelsbanken Fonder AB lowered its position in Bunge Global SA (NYSE:BG) by 8.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its stake in shares of Bunge Global by 9.8% in the second quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 121 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Bunge Global by 0.9% in the 1st quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company’s stock worth $1,321,000 after buying an additional 149 shares during the period. Retirement Systems of Alabama grew its stake in Bunge Global by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 28,841 shares of the basic materials company’s stock valued at $2,315,000 after buying an additional 157 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Bunge Global by 2.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company’s stock valued at $588,000 after acquiring an additional 158 shares during the period. Finally, Greenleaf Trust lifted its position in shares of Bunge Global by 4.0% during the second quarter. Greenleaf Trust now owns 4,221 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 164 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction on 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 completion of the sale, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. The trade was a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by insiders.

Bunge Global Price Performance

BG stock opened at $96.62 on Thursday. The firm has a 50 day simple moving average of $90.04 and a two-hundred day simple moving average of $83.62. The stock has a market cap of $18.68 billion, a PE ratio of 9.65, a P/E/G ratio of 8.28 and a beta of 0.76. Bunge Global SA has a one year low of $67.40 and a one year high of $99.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.04. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.Bunge Global’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BG has been the subject of several recent research reports. Morgan Stanley set a $95.00 price target on Bunge Global in a research report on Monday, October 27th. Stephens lifted their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. CICC Research upped their price target on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

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.