Nordea Investment Management AB Raises Stock Holdings in Bunge Global SA (NYSE:BG)

Nordea Investment Management AB boosted its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 69.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,691 shares of the basic materials company's stock after buying an additional 30,999 shares during the quarter. Nordea Investment Management AB owned about 0.05% of Bunge Global worth $7,621,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BG. Hudson Bay Capital Management LP acquired a new position in shares of Bunge Global during the 3rd quarter worth approximately $2,706,000. Vanguard Group Inc. grew its position in shares of Bunge Global by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company's stock valued at $1,989,285,000 after purchasing an additional 60,660 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Bunge Global in the third quarter valued at approximately $2,374,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Bunge Global by 174.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 36,688 shares of the basic materials company's stock worth $3,971,000 after buying an additional 23,338 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Bunge Global by 102.9% during the 3rd quarter. National Bank of Canada FI now owns 133,659 shares of the basic materials company's stock valued at $14,230,000 after buying an additional 67,795 shares during the period. Institutional investors own 84.92% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BG shares. Wolfe Research downgraded Bunge Global from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 10th. StockNews.com lowered shares of Bunge Global from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Barclays lowered their price target on Bunge Global from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, January 23rd. HSBC upgraded shares of Bunge Global from a "hold" rating to a "buy" rating and cut their target price for the company from $122.00 to $105.00 in a research note on Friday, February 9th. Finally, BMO Capital Markets lowered their price objective on shares of Bunge Global from $130.00 to $120.00 and set an "outperform" rating on the stock in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.44.

Bunge Global Stock Down 0.9 %

Shares of Bunge Global stock traded down $0.90 during trading on Friday, hitting $99.21. 1,341,227 shares of the stock were exchanged, compared to its average volume of 1,861,402. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The firm's 50-day moving average price is $92.12 and its 200 day moving average price is $101.05. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 6.73 and a beta of 0.64.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.89. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the business posted $3.24 earnings per share. Bunge Global's revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts forecast that Bunge Global SA will post 9.46 earnings per share for the current fiscal year.

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.