Freedom Investment Management Inc. Trims Stock Position in Bunge Global SA (NYSE:BG)

Freedom Investment Management Inc. lessened its stake in shares of Bunge Global SA (NYSE:BG) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,616 shares of the basic materials company’s stock after selling 285 shares during the period. Freedom Investment Management Inc.’s holdings in Bunge Global were worth $833,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after purchasing an additional 883,127 shares during the period. Dimensional Fund Advisors LP increased its holdings in Bunge Global by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after buying an additional 121,080 shares during the period. LSV Asset Management raised its stake in Bunge Global by 10.7% in the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock worth $225,629,000 after buying an additional 203,910 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bunge Global by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after buying an additional 50,615 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Bunge Global by 23.4% during the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after buying an additional 184,245 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG opened at $88.91 on Friday. Bunge Global SA has a 12 month low of $82.18 and a 12 month high of $114.92. The stock has a fifty day moving average price of $91.69 and a 200-day moving average price of $99.53. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The firm has a market cap of $12.41 billion, a PE ratio of 11.25 and a beta of 0.67.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.