Managed Asset Portfolios LLC Cuts Stake in Bunge Global SA (NYSE:BG)

Managed Asset Portfolios LLC trimmed its holdings in Bunge Global SA (NYSE:BG) by 18.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 274,176 shares of the basic materials company’s stock after selling 62,761 shares during the period. Bunge Global comprises approximately 3.7% of Managed Asset Portfolios LLC’s portfolio, making the stock its 9th largest holding. Managed Asset Portfolios LLC’s holdings in Bunge Global were worth $26,496,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BG. Mather Group LLC. grew its stake in Bunge Global by 12.4% in the 2nd quarter. Mather Group LLC. now owns 843 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 93 shares in the last quarter. Blue Trust Inc. grew its stake in Bunge Global by 52.3% in the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 102 shares in the last quarter. Ballentine Partners LLC increased its holdings in Bunge Global by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 5,761 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC raised its position in Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 124 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bunge Global by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,959 shares of the basic materials company’s stock worth $4,800,000 after buying an additional 130 shares during the period. 86.23% of the stock is owned by institutional investors.

Bunge Global Trading Down 0.8 %

Shares of NYSE:BG opened at $87.65 on Friday. 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. Bunge Global SA has a 12-month low of $82.18 and a 12-month high of $114.92. The business’s fifty day simple moving average is $92.20 and its 200-day simple moving average is $99.88.

Analyst Ratings Changes

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $114.00 in a research note 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.