ING Groep NV Cuts Stock Holdings in Bunge Global SA (NYSE:BG)

ING Groep NV reduced its stake in Bunge Global SA (NYSE:BG) by 45.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,944 shares of the basic materials company’s stock after selling 15,809 shares during the quarter. ING Groep NV’s holdings in Bunge Global were worth $1,831,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BG. Metis Global Partners LLC raised its holdings in shares of Bunge Global by 15.8% in the third quarter. Metis Global Partners LLC now owns 21,604 shares of the basic materials company’s stock valued at $2,088,000 after purchasing an additional 2,954 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Bunge Global by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 61,826 shares of the basic materials company’s stock worth $5,975,000 after purchasing an additional 716 shares in the last quarter. Victory Capital Management Inc. increased its stake in Bunge Global by 2,840.3% in the 3rd quarter. Victory Capital Management Inc. now owns 129,698 shares of the basic materials company’s stock valued at $12,534,000 after buying an additional 125,287 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Bunge Global during the 3rd quarter worth approximately $468,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Bunge Global by 38.2% in the 3rd quarter. GSA Capital Partners LLP now owns 14,769 shares of the basic materials company’s stock worth $1,427,000 after buying an additional 4,084 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Price Performance

Shares of NYSE BG opened at $90.60 on Friday. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 11.47 and a beta of 0.67. The stock has a fifty day simple moving average of $93.00 and a two-hundred day simple moving average of $100.33. 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.

Wall Street Analysts Forecast Growth

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

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.