Horizon Kinetics Asset Management LLC Has $26.10 Million Position in Bunge Global SA (NYSE:BG)

Horizon Kinetics Asset Management LLC lessened its stake in Bunge Global SA (NYSE:BG) by 6.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 270,075 shares of the basic materials company’s stock after selling 17,763 shares during the period. Bunge Global comprises about 0.4% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Horizon Kinetics Asset Management LLC’s holdings in Bunge Global were worth $26,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Bunge Global during the second quarter worth $28,000. Blue Trust Inc. raised its position in shares of Bunge Global by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 102 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position 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 acquiring an additional 200 shares in the last quarter. 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 boosted its position in shares of Bunge Global by 261.3% during 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.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $87.65 on Monday. The business has a 50-day simple moving average of $92.20 and a 200 day simple moving average of $99.84. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 11.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. Bunge Global SA has a one year low of $82.18 and a one year high of $114.92.

Analysts Set New Price Targets

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

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.