Swedbank AB Raises Holdings in Bunge Global SA (NYSE:BG)

Swedbank AB grew its stake in Bunge Global SA (NYSE:BG) by 11.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 143,534 shares of the basic materials company’s stock after buying an additional 15,241 shares during the quarter. Swedbank AB’s holdings in Bunge Global were worth $13,871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in Bunge Global by 26.5% in the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after acquiring an additional 883,127 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bunge Global by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after purchasing an additional 121,080 shares in the last quarter. LSV Asset Management lifted its position in shares of Bunge Global by 10.7% during the 2nd 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. Charles Schwab Investment Management Inc. grew its stake in shares of Bunge Global by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after purchasing an additional 50,615 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Bunge Global by 23.4% in 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 buying an additional 184,245 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bunge Global Stock Performance

NYSE BG opened at $89.66 on Wednesday. The company has a fifty day moving average of $92.02 and a two-hundred day moving average of $99.72. The company has a market capitalization of $12.52 billion, a PE ratio of 11.35 and a beta of 0.67. Bunge Global SA has a 1 year low of $82.18 and a 1 year high of $114.92. 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 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.