Swiss National Bank Cuts Stock Holdings in Bunge Global SA (NYSE:BG)

Swiss National Bank lessened its holdings in Bunge Global SA (NYSE:BG) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420,300 shares of the basic materials company’s stock after selling 4,300 shares during the quarter. Swiss National Bank owned 0.30% of Bunge Global worth $40,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in shares of Bunge Global in the second quarter valued at about $28,000. Blue Trust Inc. lifted its position in shares of Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 102 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Bunge Global by 185.2% during 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 purchased a new stake in shares of Bunge Global during the 2nd quarter worth approximately $40,000. Finally, Atlas Capital Advisors LLC grew its holdings in shares of Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 277 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Price Performance

BG stock opened at $88.08 on Thursday. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 11.15 and a beta of 0.67. The stock’s fifty day simple moving average is $92.55 and its 200-day simple moving average is $100.09. Bunge Global SA has a 52-week low of $82.18 and a 52-week high of $114.92. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $114.00 in a research 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 data from MarketBeat.com, Bunge Global presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

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.