Baker Avenue Asset Management LP Grows Position in Bunge Global SA (NYSE:BG)

Baker Avenue Asset Management LP boosted its stake in shares of Bunge Global SA (NYSE:BG) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,228 shares of the basic materials company’s stock after purchasing an additional 7,296 shares during the period. Bunge Global makes up approximately 0.8% of Baker Avenue Asset Management LP’s portfolio, making the stock its 28th biggest holding. Baker Avenue Asset Management LP’s holdings in Bunge Global were worth $26,791,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Bunge Global during the 2nd quarter worth $28,000. Blue Trust Inc. increased its stake in Bunge Global by 52.3% during the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Bunge Global by 185.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 200 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Bunge Global in the 2nd quarter valued at about $40,000. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup downgraded 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 research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Performance

Bunge Global stock opened at $87.12 on Friday. 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 SA has a one year low of $82.18 and a one year high of $114.92. The stock’s 50 day moving average price is $94.15 and its 200 day moving average price is $100.87. The firm has a market capitalization of $12.16 billion, a PE ratio of 11.03 and a beta of 0.67.

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.