Swedbank AB Cuts Position in Bunge Global SA $BG

Swedbank AB decreased its holdings in shares of Bunge Global SA (NYSE:BG) by 23.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,225 shares of the basic materials company’s stock after selling 39,957 shares during the period. Swedbank AB owned 0.06% of Bunge Global worth $10,500,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cromwell Holdings LLC grew its stake in shares of 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 buying an additional 334 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Bunge Global in the second quarter worth $29,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Bunge Global in the second quarter worth $31,000. MUFG Securities EMEA plc bought a new position in shares of Bunge Global during the second quarter valued at $32,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Bunge Global by 57.7% during the second quarter. Rakuten Securities Inc. now owns 481 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 176 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

BG has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. CICC Research upped their target price on shares of Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Citigroup reiterated a “buy” rating on shares of Bunge Global in a report on Tuesday, December 2nd. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Finally, Bank of America upped their price objective on Bunge Global from $95.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $109.00.

Bunge Global Stock Up 0.5%

BG opened at $89.11 on Friday. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 2.32 and a beta of 0.79. The firm has a 50 day moving average price of $94.09 and a 200-day moving average price of $85.78. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $99.55. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57.

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 company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. Equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Insider Activity

In related news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction on Friday, November 21st. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.

About Bunge Global

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.