Ballentine Partners LLC Sells 278 Shares of Bunge Global SA (NYSE:BG)

Ballentine Partners LLC decreased its stake in shares of Bunge Global SA (NYSE:BG) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,224 shares of the basic materials company’s stock after selling 278 shares during the period. Ballentine Partners LLC’s holdings in Bunge Global were worth $406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BG. Envestnet Asset Management Inc. grew its holdings in shares of Bunge Global by 17.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 125,647 shares of the basic materials company’s stock worth $13,415,000 after acquiring an additional 19,095 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Bunge Global by 24.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,085 shares of the basic materials company’s stock valued at $634,000 after purchasing an additional 1,215 shares in the last quarter. Sei Investments Co. raised its holdings in Bunge Global by 15.3% in the second quarter. Sei Investments Co. now owns 66,046 shares of the basic materials company’s stock worth $7,051,000 after purchasing an additional 8,777 shares in the last quarter. ProShare Advisors LLC raised its holdings in Bunge Global by 10.5% in the second quarter. ProShare Advisors LLC now owns 36,224 shares of the basic materials company’s stock worth $3,868,000 after purchasing an additional 3,455 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Bunge Global by 60.3% during the second quarter. Public Sector Pension Investment Board now owns 5,240 shares of the basic materials company’s stock valued at $559,000 after buying an additional 1,971 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays lowered shares of Bunge Global from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $115.00 to $95.00 in a research note on Tuesday. Stephens upgraded shares of Bunge Global to a “strong-buy” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.33.

Bunge Global Stock Performance

BG stock opened at $78.73 on Friday. The stock’s 50 day simple moving average is $82.49 and its 200 day simple moving average is $92.64. 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 12-month low of $75.75 and a 12-month high of $114.92. The stock has a market capitalization of $10.99 billion, a PE ratio of 9.97 and a beta of 0.70.

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.