Empowered Funds LLC Raises Stake in Bunge Global SA (NYSE:BG)

Empowered Funds LLC boosted its holdings in Bunge Global SA (NYSE:BG - Free Report) by 74.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,645 shares of the basic materials company's stock after acquiring an additional 47,691 shares during the period. Empowered Funds LLC owned 0.08% of Bunge Global worth $10,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Bunge Global by 26.5% in the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company's stock worth $449,614,000 after acquiring an additional 883,127 shares during the last quarter. Millennium Management LLC raised its stake in Bunge Global by 12,617.1% in 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 last quarter. LSV Asset Management lifted its holdings in Bunge Global by 10.7% in the 2nd quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company's stock valued at $225,629,000 after purchasing an additional 203,910 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Bunge Global by 23.4% in 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, Swedbank AB acquired a new stake in shares of Bunge Global during the 1st quarter worth about $17,027,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Up 2.9 %

Shares of BG traded up $2.54 during mid-day trading on Friday, hitting $90.60. The company had a trading volume of 3,252,661 shares, compared to its average volume of 1,570,274. Bunge Global SA has a 1-year low of $82.18 and a 1-year high of $114.92. The business's 50-day simple moving average is $93.00 and its 200-day simple moving average is $100.33. The stock has a market cap of $12.65 billion, a PE ratio of 11.47 and a beta of 0.67. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Bunge Global from a "buy" rating to a "neutral" rating and reduced 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.00.

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.