Moran Wealth Management LLC Sells 379 Shares of Bunge Global SA (NYSE:BG)

Moran Wealth Management LLC lessened its stake in shares of Bunge Global SA (NYSE:BG) by 5.1% in the third quarter, Holdings Channel reports. The institutional investor owned 7,108 shares of the basic materials company’s stock after selling 379 shares during the period. Moran Wealth Management LLC’s holdings in Bunge Global were worth $687,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Bunge Global by 26.5% during the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after acquiring an additional 883,127 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Bunge Global by 12,617.1% in the 2nd quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after purchasing an additional 878,653 shares in the last quarter. LSV Asset Management raised its stake in shares of Bunge Global by 10.7% in the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock worth $225,629,000 after purchasing an additional 203,910 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Bunge Global by 23.4% during the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock valued at $103,576,000 after purchasing an additional 184,245 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of Bunge Global by 1,585.3% during the third quarter. Mizuho Securities USA LLC now owns 184,000 shares of the basic materials company’s stock valued at $17,782,000 after buying an additional 173,082 shares during the last quarter. Hedge funds and other 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 decreased their price objective for the company 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 given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Stock Performance

Shares of NYSE:BG opened at $88.50 on Friday. 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 company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 11.20 and a beta of 0.67. Bunge Global SA has a 12 month low of $82.18 and a 12 month high of $114.92. The firm’s 50-day moving average is $92.39 and its 200 day moving average is $100.01.

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.