Citigroup Inc. Sells 55,480 Shares of Bunge Global SA (NYSE:BG)

Citigroup Inc. cut its stake in Bunge Global SA (NYSE:BG) by 27.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,794 shares of the basic materials company’s stock after selling 55,480 shares during the quarter. Citigroup Inc. owned about 0.11% of Bunge Global worth $14,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new position in Bunge Global during the 2nd quarter worth $28,000. Blue Trust Inc. grew its stake in 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 purchasing an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in Bunge Global by 185.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Bunge Global during the 2nd quarter valued at about $40,000. Finally, Atlas Capital Advisors LLC grew its stake in Bunge Global by 261.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Citigroup cut 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 issued a buy rating to the company. According to data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Stock Performance

NYSE BG opened at $88.90 on Thursday. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 11.29 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 company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $91.86 and a 200 day moving average of $99.60.

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.