Bunge Global SA $BG Stock Purchased by Danske Bank A S

Danske Bank A S lifted its stake in shares of Bunge Global SA (NYSE:BG) by 14,409.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,028,711 shares of the basic materials company’s stock after acquiring an additional 1,021,621 shares during the quarter. Danske Bank A S’s holdings in Bunge Global were worth $107,925,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in Bunge Global in the 2nd quarter worth approximately $266,653,000. Robeco Institutional Asset Management B.V. raised its stake in Bunge Global by 638.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,071,356 shares of the basic materials company’s stock worth $217,777,000 after acquiring an additional 1,790,978 shares during the period. Amundi raised its stake in Bunge Global by 9.4% during the 1st quarter. Amundi now owns 1,186,039 shares of the basic materials company’s stock worth $150,853,000 after acquiring an additional 101,942 shares during the period. Aberdeen Group plc lifted its holdings in Bunge Global by 5,745.9% during the third quarter. Aberdeen Group plc now owns 1,263,069 shares of the basic materials company’s stock valued at $132,541,000 after purchasing an additional 1,241,463 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. lifted its holdings in Bunge Global by 5,241.2% during the third quarter. Eurizon Capital SGR S.p.A. now owns 1,047,513 shares of the basic materials company’s stock valued at $110,215,000 after purchasing an additional 1,027,901 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Price Performance

Shares of NYSE:BG traded up $1.65 during trading on Friday, hitting $101.63. 987,711 shares of the company’s stock were exchanged, compared to its average volume of 1,753,681. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.50 and a quick ratio of 0.65. Bunge Global SA has a 52-week low of $88.24 and a 52-week high of $134.87. The business’s 50-day simple moving average is $107.24 and its 200 day simple moving average is $116.38. The company has a market cap of $19.53 billion, a price-to-earnings ratio of 17.08 and a beta of 0.70.

Bunge Global (NYSE:BG) last issued its earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.15. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The company had revenue of $23.80 billion for the quarter, compared to the consensus estimate of $23.28 billion. During the same quarter last year, the company earned $2.27 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict that Bunge Global SA will post 9.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BG shares. Zacks Research lowered shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. UBS Group increased their price objective on shares of Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Weiss Ratings downgraded shares of Bunge Global from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $150.00 price objective on shares of Bunge Global in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.38.

Bunge Global Company Profile

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains. The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services. Founded in 1818, Bunge expanded from its European origins into a global business.