KG&L Capital Management LLC Makes New Investment in Bunge Global SA (NYSE:BG)

KG&L Capital Management LLC bought a new position in shares of Bunge Global SA (NYSE:BG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,303 shares of the basic materials company’s stock, valued at approximately $319,000.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of Bunge Global by 26.5% in the second 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. Millennium Management LLC lifted its position in shares of Bunge Global by 12,617.1% in the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock valued at $94,557,000 after acquiring an additional 878,653 shares in the last quarter. LSV Asset Management lifted its position in shares of Bunge Global by 33.4% in the first quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock valued at $195,743,000 after acquiring an additional 478,559 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Bunge Global in the first quarter valued at $26,817,000. Finally, AQR Capital Management LLC lifted its position in shares of Bunge Global by 23.4% in the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock valued at $103,576,000 after acquiring an additional 184,245 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Stock Performance

Bunge Global stock opened at $84.00 on Tuesday. The firm has a market capitalization of $11.73 billion, a P/E ratio of 10.63 and a beta of 0.67. The stock has a fifty day moving average price of $95.66 and a 200 day moving average price of $101.63. Bunge Global SA has a 52 week low of $82.45 and a 52 week high of $114.92. The company has a current ratio of 2.07, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43.

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.