Raymond James & Associates Reduces Stock Holdings in Bunge Global SA (NYSE:BG)

Raymond James & Associates cut its holdings in Bunge Global SA (NYSE:BG) by 11.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,042 shares of the basic materials company’s stock after selling 4,313 shares during the quarter. Raymond James & Associates’ holdings in Bunge Global were worth $3,097,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in Bunge Global during the 1st quarter worth approximately $26,817,000. Tokio Marine Asset Management Co. Ltd. grew its position in Bunge Global by 6.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,949 shares of the basic materials company’s stock worth $405,000 after purchasing an additional 225 shares during the period. Nordea Investment Management AB raised its stake in shares of Bunge Global by 8.4% during the 1st quarter. Nordea Investment Management AB now owns 82,057 shares of the basic materials company’s stock valued at $8,494,000 after buying an additional 6,366 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Bunge Global by 0.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 27,655 shares of the basic materials company’s stock valued at $2,835,000 after buying an additional 203 shares during the period. Finally, Mutual of America Capital Management LLC acquired a new stake in Bunge Global during the first quarter worth about $1,951,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

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

Bunge Global Stock Performance

NYSE BG opened at $84.00 on Tuesday. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 10.63 and a beta of 0.67. The stock has a 50-day moving average of $95.66 and a 200 day moving average of $101.63. The company has a current ratio of 2.07, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. Bunge Global SA has a twelve month low of $82.45 and a twelve month high of $114.92.

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.