Empowered Funds LLC Acquires 47,691 Shares of Bunge Global SA (NYSE:BG)

Empowered Funds LLC lifted its holdings in shares of Bunge Global SA (NYSE:BG) by 74.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,645 shares of the basic materials company’s stock after acquiring an additional 47,691 shares during the period. Empowered Funds LLC owned approximately 0.08% of Bunge Global worth $10,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Bunge Global by 26.5% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bunge Global by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after purchasing an additional 121,080 shares in the last quarter. LSV Asset Management boosted its holdings in Bunge Global by 10.7% during 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 last quarter. AQR Capital Management LLC grew its position in Bunge Global by 23.4% in the 2nd 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 in the last quarter. Finally, Millennium Management LLC increased its stake in Bunge Global by 12,617.1% in the 2nd quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock valued at $94,557,000 after buying an additional 878,653 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Trading Up 2.9 %

Shares of BG stock opened at $90.60 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $12.65 billion, a P/E ratio of 11.47 and a beta of 0.67. The company has a 50 day moving average of $93.00 and a 200-day moving average of $100.34. Bunge Global SA has a 12-month low of $82.18 and a 12-month high of $114.92.

Analysts Set New Price Targets

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and cut their target price for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Bunge Global has an average 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.