Principal Financial Group Inc. Buys 4,733 Shares of Bunge Global SA (NYSE:BG)

Principal Financial Group Inc. raised its stake in Bunge Global SA (NYSE:BG) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,218 shares of the basic materials company’s stock after buying an additional 4,733 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Bunge Global worth $17,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in shares of Bunge Global by 26.5% in 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 acquiring an additional 883,127 shares during the period. Millennium Management LLC increased its stake in Bunge Global by 12,617.1% in the second 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 in the last quarter. LSV Asset Management raised its holdings 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 purchasing an additional 203,910 shares during the period. AQR Capital Management LLC raised its holdings in Bunge Global by 23.4% in the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after purchasing an additional 184,245 shares during the period. Finally, Swedbank AB bought a new position in shares of Bunge Global during the first quarter worth $17,027,000. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Price Performance

Shares of NYSE BG opened at $88.06 on Friday. The company has a fifty day moving average price of $93.15 and a 200 day moving average price of $100.43. The firm has a market cap of $12.30 billion, a PE ratio of 11.15 and a beta of 0.67. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 1-year low of $82.18 and a 1-year high of $114.92.

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.