Ontario Teachers Pension Plan Board Reduces Position in Bunge Global SA (NYSE:BG)

Ontario Teachers Pension Plan Board trimmed its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 73.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,895 shares of the basic materials company's stock after selling 30,230 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Bunge Global were worth $1,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Bunge Global in the second quarter worth about $28,000. Blue Trust Inc. raised its holdings in shares of Bunge Global by 52.3% in the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company's stock worth $30,000 after buying an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of Bunge Global by 185.2% during the second quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company's stock worth $33,000 after buying an additional 200 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Bunge Global during the second quarter valued at $40,000. Finally, Atlas Capital Advisors LLC increased its position in shares of Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

BG stock traded up $1.16 during midday trading on Thursday, hitting $89.24. 169,508 shares of the stock traded hands, compared to its average volume of 1,573,843. The firm has a market cap of $12.46 billion, a P/E ratio of 11.15 and a beta of 0.67. Bunge Global SA has a 1-year low of $82.18 and a 1-year high of $114.92. The stock's fifty day simple moving average is $92.55 and its 200-day simple moving average is $100.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10.

Wall Street Analyst Weigh In

Separately, Citigroup cut Bunge Global from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $125.00 to $114.00 in a research 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. According to MarketBeat.com, Bunge Global currently has a consensus rating of "Moderate Buy" and a consensus price target 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.