Forsta AP Fonden Has $2.51 Million Stock Position in Bunge Global SA (NYSE:BG)

Key Points

• Forsta AP Fonden sold 63,200 shares of Bunge Global SA, reducing its holdings by 65.8% to 32,800 shares valued at approximately $2.51 million.
• While Forsta AP Fonden decreased its position, several other firms, such as SBI Securities and Allworth Financial, increased their stakes in Bunge Global during the same period.
• Bunge Global has a consensus rating of "Hold" from analysts, with a price target range suggesting potential growth, as Citigroup raised its target from $76.00 to $77.00.

Forsta AP Fonden reduced its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 65.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,800 shares of the basic materials company's stock after selling 63,200 shares during the quarter. Forsta AP Fonden's holdings in Bunge Global were worth $2,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its holdings in shares of Bunge Global by 12.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock valued at $95,000 after buying an additional 135 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Bunge Global by 18.4% during the first quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock valued at $76,000 after buying an additional 146 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Bunge Global by 2.1% during the first quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company's stock valued at $588,000 after buying an additional 158 shares during the last quarter. DoubleLine ETF Adviser LP boosted its holdings in Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock worth $615,000 after purchasing an additional 183 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Bunge Global by 24.9% during the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock worth $76,000 after purchasing an additional 199 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BG. Citigroup boosted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Stephens cut their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bunge Global has a consensus rating of "Hold" and a consensus price target of $81.60.

Bunge Global Stock Down 0.8%

BG opened at $82.27 on Tuesday. 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 $11.06 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 5.12 and a beta of 0.67. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $101.81. The company's 50-day moving average price is $78.79 and its two-hundred day moving average price is $76.78.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.12. The firm had revenue of $12.77 billion for the quarter, compared to analysts' expectations of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.4%. Bunge Global's payout ratio is 27.97%.

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.

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