Old West Investment Management LLC Has $11.60 Million Position in Bunge Global SA (NYSE:BG)

Old West Investment Management LLC raised its holdings in Bunge Global SA (NYSE:BG - Free Report) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 120,043 shares of the basic materials company's stock after purchasing an additional 7,489 shares during the quarter. Bunge Global makes up about 4.2% of Old West Investment Management LLC's investment portfolio, making the stock its 8th largest position. Old West Investment Management LLC owned approximately 0.08% of Bunge Global worth $11,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BG. Tokio Marine Asset Management Co. Ltd. raised its position in Bunge Global by 6.0% in 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 last quarter. Nordea Investment Management AB lifted its stake in shares of Bunge Global by 8.4% during the first quarter. Nordea Investment Management AB now owns 82,057 shares of the basic materials company's stock valued at $8,494,000 after acquiring an additional 6,366 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Bunge Global by 0.7% in the first quarter. Daiwa Securities Group Inc. now owns 27,655 shares of the basic materials company's stock valued at $2,835,000 after acquiring an additional 203 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in Bunge Global in the first quarter worth about $1,951,000. Finally, Central Pacific Bank Trust Division bought a new stake in Bunge Global during the 1st quarter worth about $102,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered shares of Bunge Global from a "buy" rating to a "neutral" rating and reduced their target price for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.

Bunge Global Trading Up 1.1 %

NYSE BG traded up $0.96 during trading on Wednesday, reaching $85.76. 2,540,341 shares of the stock traded hands, compared to its average volume of 1,542,336. The stock's 50-day moving average price is $95.02 and its 200 day moving average price is $101.30. 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 $11.97 billion, a price-to-earnings ratio of 10.73 and a beta of 0.67. Bunge Global SA has a fifty-two week low of $82.18 and a fifty-two week high of $114.92.

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.