TIAA Trust National Association Trims Position in Bunge Global SA $BG

TIAA Trust National Association cut its holdings in shares of Bunge Global SA (NYSE:BG) by 21.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,623 shares of the basic materials company’s stock after selling 2,908 shares during the period. TIAA Trust National Association’s holdings in Bunge Global were worth $853,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BG. Cromwell Holdings LLC grew its stake in Bunge Global by 4,175.0% in the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 334 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Bunge Global in the second quarter worth $29,000. Manchester Capital Management LLC grew its stake in Bunge Global by 588.5% in the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 359 shares during the period. SVB Wealth LLC purchased a new stake in Bunge Global in the first quarter worth $38,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Bunge Global by 197.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 341 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Down 0.1%

NYSE BG opened at $93.90 on Wednesday. The stock has a market cap of $18.78 billion, a P/E ratio of 9.38, a P/E/G ratio of 8.28 and a beta of 0.66. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $99.55. The stock’s fifty day moving average price is $86.09 and its 200-day moving average price is $81.82.

Insider Buying and Selling at Bunge Global

In related news, Director Christopher Mahoney acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, with a total value of $408,650.00. Following the completion of the acquisition, the director directly owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. This trade represents a 231.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Bunge Global from $95.00 to $107.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. BMO Capital Markets boosted their price objective on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Morgan Stanley set a $95.00 target price on Bunge Global in a research note on Monday, October 27th. Stephens increased their target price on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, Barclays increased their target price on Bunge Global from $85.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $99.43.

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.