Horizon Kinetics Asset Management LLC Sells 17,763 Shares of Bunge Global SA (NYSE:BG)

Horizon Kinetics Asset Management LLC cut its position in Bunge Global SA (NYSE:BG) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,075 shares of the basic materials company’s stock after selling 17,763 shares during the quarter. Bunge Global accounts for about 0.4% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 29th largest holding. Horizon Kinetics Asset Management LLC owned about 0.19% of Bunge Global worth $26,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in Bunge Global during the third quarter worth $859,000. Daiwa Securities Group Inc. raised its holdings in shares of Bunge Global by 4.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,489 shares of the basic materials company’s stock worth $2,947,000 after buying an additional 1,261 shares in the last quarter. Swedbank AB boosted its stake in Bunge Global by 11.9% in the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock valued at $13,871,000 after buying an additional 15,241 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $139,608,000 after buying an additional 50,615 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Bunge Global by 194.0% in the third quarter. Intech Investment Management LLC now owns 50,211 shares of the basic materials company’s stock valued at $4,852,000 after acquiring an additional 33,130 shares during the last quarter. Institutional investors own 86.23% 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 target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Price Performance

Bunge Global stock opened at $87.65 on Monday. The company has a market capitalization of $12.24 billion, a PE ratio of 11.09 and a beta of 0.67. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $92.20 and a two-hundred day moving average price of $99.84. Bunge Global SA has a 12 month low of $82.18 and a 12 month high of $114.92.

Bunge Global 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.