CIBC Asset Management Inc Grows Stock Holdings in Bunge Global SA (NYSE:BG)

CIBC Asset Management Inc lifted its holdings in Bunge Global SA (NYSE:BG) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,287 shares of the basic materials company’s stock after acquiring an additional 1,513 shares during the period. CIBC Asset Management Inc’s holdings in Bunge Global were worth $2,347,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. increased its holdings in Bunge Global by 12.4% in the 2nd quarter. Mather Group LLC. now owns 843 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 93 shares in the last quarter. Blue Trust Inc. grew its stake 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 valued at $30,000 after buying an additional 102 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Bunge Global by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 5,761 shares of the basic materials company’s stock valued at $615,000 after buying an additional 111 shares during the period. Farther Finance Advisors LLC lifted its position in Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bunge Global by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,959 shares of the basic materials company’s stock worth $4,800,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 2.0 %

Shares of NYSE:BG opened at $89.50 on Wednesday. The firm has a market cap of $12.50 billion, a PE ratio of 11.33 and a beta of 0.67. The company has a fifty day simple moving average of $92.71 and a 200 day simple moving average of $100.18. 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 12-month low of $82.18 and a 12-month high of $114.92.

Analyst Upgrades and Downgrades

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and reduced their target price 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 issued a buy rating to the company. According to data from MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Company Profile

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.