Bunge Global SA (NYSE:BG) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its holdings in Bunge Global SA (NYSE:BG) by 96.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,581 shares of the basic materials company’s stock after buying an additional 2,733 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Bunge Global were worth $539,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after buying an additional 883,127 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Bunge Global by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock worth $243,664,000 after purchasing an additional 121,080 shares in the last quarter. LSV Asset Management lifted its position in Bunge Global by 10.7% in the second 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 period. AQR Capital Management LLC boosted its stake 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 valued at $103,576,000 after purchasing an additional 184,245 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Bunge Global by 12,617.1% during 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 during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four 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 has an average rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Stock Performance

BG opened at $87.12 on Monday. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $12.16 billion, a PE ratio of 11.03 and a beta of 0.67. The business has a fifty day simple moving average of $94.15 and a 200-day simple moving average of $100.84. Bunge Global SA has a fifty-two week low of $82.18 and a fifty-two week high of $114.92.

About Bunge Global

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.