PNC Financial Services Group Inc. Decreases Position in Bunge Global SA (NYSE:BG)

PNC Financial Services Group Inc. cut its stake in shares of Bunge Global SA (NYSE:BG) by 13.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 76,532 shares of the basic materials company’s stock after selling 11,789 shares during the period. PNC Financial Services Group Inc.’s holdings in Bunge Global were worth $7,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in Bunge Global by 26.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after buying an additional 883,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Bunge Global by 5.6% in the second 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 during the last quarter. LSV Asset Management grew its stake in 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 valued at $225,629,000 after purchasing an additional 203,910 shares in the last quarter. AQR Capital Management LLC increased its holdings in Bunge Global by 23.4% during the 2nd quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after purchasing an additional 184,245 shares during the last quarter. Finally, Millennium Management LLC raised its position 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 valued at $94,557,000 after purchasing an additional 878,653 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of NYSE BG opened at $87.65 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 $12.24 billion, a price-to-earnings ratio of 11.09 and a beta of 0.67. Bunge Global SA has a twelve month low of $82.18 and a twelve month high of $114.92. The business has a 50 day simple moving average of $92.20 and a 200-day simple moving average of $99.88.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of 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 research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

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.