Baker Avenue Asset Management LP Has $26.79 Million Stake in Bunge Global SA (NYSE:BG)

Baker Avenue Asset Management LP raised its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,228 shares of the basic materials company's stock after purchasing an additional 7,296 shares during the period. Bunge Global accounts for about 0.8% of Baker Avenue Asset Management LP's investment portfolio, making the stock its 28th largest position. Baker Avenue Asset Management LP owned approximately 0.20% of Bunge Global worth $26,791,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. bought a new position in Bunge Global during the first quarter valued at about $899,000. Bleakley Financial Group LLC lifted its holdings in Bunge Global by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company's stock worth $4,247,000 after purchasing an additional 6,281 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Bunge Global during the first quarter worth approximately $1,951,000. Donoghue Forlines LLC bought a new position in shares of Bunge Global in the first quarter valued at approximately $482,000. Finally, Sei Investments Co. lifted its stake in shares of Bunge Global by 10.6% in the first quarter. Sei Investments Co. now owns 57,269 shares of the basic materials company's stock worth $5,873,000 after buying an additional 5,504 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

Shares of BG stock traded up $0.31 during trading hours on Friday, hitting $87.12. The company had a trading volume of 2,296,766 shares, compared to its average volume of 2,129,537. Bunge Global SA has a 12 month low of $82.18 and a 12 month high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07. The firm's fifty day moving average is $94.15 and its 200 day moving average is $100.87. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 11.03 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Bunge Global from a "buy" rating to a "neutral" rating and dropped their target price for the stock 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, Bunge Global currently has an average rating of "Moderate Buy" and an average price target of $118.00.

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.