Bunge Global SA (NYSE:BG) is Managed Asset Portfolios LLC’s 9th Largest Position

Managed Asset Portfolios LLC cut its stake in shares of Bunge Global SA (NYSE:BG) by 18.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,176 shares of the basic materials company’s stock after selling 62,761 shares during the quarter. Bunge Global accounts for about 3.7% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 9th largest holding. Managed Asset Portfolios LLC owned approximately 0.20% of Bunge Global worth $26,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BG. Pacer Advisors Inc. grew its stake in shares of Bunge Global by 26.5% in the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after acquiring an additional 883,127 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Bunge Global by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock worth $243,664,000 after acquiring an additional 121,080 shares during the period. LSV Asset Management grew its holdings in Bunge Global by 10.7% during the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock valued at $225,629,000 after purchasing an additional 203,910 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Bunge Global by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after purchasing an additional 50,615 shares during the period. Finally, AQR Capital Management LLC increased its stake in Bunge Global by 23.4% in the 2nd quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after buying an additional 184,245 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Performance

NYSE:BG opened at $87.65 on Friday. The firm has a market capitalization of $12.24 billion, a PE ratio of 11.09 and a beta of 0.67. The stock’s fifty day moving average is $92.20 and its 200 day moving average is $99.88. Bunge Global SA has a fifty-two week low of $82.18 and a fifty-two week high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07.

Bunge Global Company Profile

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.