Invesco LLC Trims Stock Holdings in Bunge Global SA (NYSE:BG)

Invesco LLC decreased its holdings in shares of Bunge Global SA (NYSE:BG) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,661 shares of the basic materials company’s stock after selling 263 shares during the period. Invesco LLC’s holdings in Bunge Global were worth $362,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BG. State Street Corp increased its holdings in Bunge Global by 7.6% in the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after buying an additional 500,897 shares in the last quarter. Geode Capital Management LLC raised its position in Bunge Global by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock worth $329,697,000 after acquiring an additional 45,159 shares during the period. Pacer Advisors Inc. grew its position in shares of Bunge Global by 13,459.9% during the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock valued at $229,894,000 after acquiring an additional 2,934,656 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Bunge Global by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock worth $139,608,000 after purchasing an additional 50,615 shares during the period. Finally, abrdn plc lifted its position in Bunge Global by 2.0% during the third quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock valued at $58,990,000 after purchasing an additional 11,808 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 0.7 %

Shares of Bunge Global stock traded up $0.53 on Wednesday, reaching $77.79. The company had a trading volume of 75,985 shares, compared to its average volume of 1,324,406. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 9.85 and a beta of 0.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. The firm’s 50-day moving average price is $81.72 and its two-hundred day moving average price is $91.69. Bunge Global SA has a 1 year low of $75.75 and a 1 year high of $114.92.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BG. Stephens raised Bunge Global to a “strong-buy” rating in a research report on Monday, December 2nd. Barclays cut Bunge Global from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $115.00 to $95.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.33.

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.