AMF Tjanstepension AB Invests $7.13 Million in Bunge Global SA (NYSE:BG)

AMF Tjanstepension AB purchased a new stake in shares of Bunge Global SA (NYSE:BG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,784 shares of the basic materials company’s stock, valued at approximately $7,131,000.

Several other large investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new position in shares of Bunge Global during the fourth quarter valued at approximately $37,000. Riverview Trust Co bought a new position in Bunge Global during the 1st quarter worth $46,000. Versant Capital Management Inc acquired a new stake in Bunge Global in the second quarter worth $48,000. GAMMA Investing LLC acquired a new stake in Bunge Global in the fourth quarter worth $62,000. Finally, Rise Advisors LLC lifted its stake in Bunge Global by 56.8% in the first quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock valued at $65,000 after buying an additional 230 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the completion of the transaction, the insider now owns 87,999 shares in the company, valued at approximately $9,086,776.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bunge Global presently has an average rating of “Moderate Buy” and a consensus price target of $120.11.

Bunge Global Price Performance

Shares of NYSE:BG traded up $0.38 during trading on Wednesday, reaching $95.69. The company had a trading volume of 1,304,698 shares, compared to its average volume of 1,549,660. The firm’s fifty day moving average is $107.37 and its 200 day moving average is $101.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 2.03. The firm has a market capitalization of $13.55 billion, a PE ratio of 7.70 and a beta of 0.67. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $115.84.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. Bunge Global’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.72 EPS. On average, equities analysts forecast that Bunge Global SA will post 9.4 EPS for the current 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.