Kentucky Retirement Systems Insurance Trust Fund Decreases Position in Bunge Global SA (NYSE:BG)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Bunge Global SA (NYSE:BG) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,194 shares of the basic materials company’s stock after selling 373 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Bunge Global were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in Bunge Global in the 2nd quarter valued at about $28,000. Blue Trust Inc. raised its holdings in Bunge Global by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in Bunge Global by 185.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Bunge Global in the 2nd quarter valued at about $40,000. Finally, Atlas Capital Advisors LLC raised its holdings in 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 last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

NYSE:BG opened at $89.50 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07. The stock has a market capitalization of $12.50 billion, a P/E ratio of 11.33 and a beta of 0.67. The company has a 50 day moving average price of $92.71 and a 200 day moving average price of $100.18. Bunge Global SA has a fifty-two week low of $82.18 and a fifty-two week high of $114.92.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and cut their price target for the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global 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.