Bunge Global SA (NYSE:BG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Bunge Global SA (NYSE:BG) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,532 shares of the basic materials company’s stock after selling 11,789 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of Bunge Global worth $7,396,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. 1832 Asset Management L.P. purchased a new stake in Bunge Global in the 1st quarter worth approximately $1,865,000. Price T Rowe Associates Inc. MD grew its position in shares of Bunge Global by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,821 shares of the basic materials company’s stock valued at $20,281,000 after purchasing an additional 5,635 shares during the period. Public Employees Retirement System of Ohio increased its stake in Bunge Global by 27.9% in the first quarter. Public Employees Retirement System of Ohio now owns 80,754 shares of the basic materials company’s stock valued at $8,279,000 after purchasing an additional 17,638 shares during the last quarter. Paloma Partners Management Co purchased a new position in Bunge Global during the first quarter worth about $691,000. Finally, Janus Henderson Group PLC boosted its stake in Bunge Global by 13.3% in the 1st quarter. Janus Henderson Group PLC now owns 82,036 shares of the basic materials company’s stock worth $8,408,000 after buying an additional 9,648 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and dropped their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Bunge Global Stock Performance

NYSE BG opened at $87.65 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. Bunge Global SA has a 1-year low of $82.18 and a 1-year high of $114.92. The firm has a market capitalization of $12.24 billion, a P/E ratio of 11.09 and a beta of 0.67. The business’s 50-day simple moving average is $92.20 and its 200-day simple moving average is $99.88.

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.