M&T Bank Corp Trims Stock Position in Bunge Global SA (NYSE:BG)

M&T Bank Corp trimmed its position in Bunge Global SA (NYSE:BG) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,637 shares of the basic materials company’s stock after selling 606 shares during the quarter. M&T Bank Corp’s holdings in Bunge Global were worth $544,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BG. Xponance Inc. raised its holdings in Bunge Global by 39.0% in the 2nd quarter. Xponance Inc. now owns 43,140 shares of the basic materials company’s stock valued at $4,606,000 after buying an additional 12,104 shares during the period. AMG National Trust Bank acquired a new stake in shares of Bunge Global during the second quarter valued at about $314,000. Swedbank AB raised its stake in shares of Bunge Global by 11.9% in the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock valued at $13,871,000 after acquiring an additional 15,241 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of Bunge Global in the 3rd quarter worth approximately $888,000. Finally, Amalgamated Bank boosted its position in shares of Bunge Global by 14.4% during the 2nd quarter. Amalgamated Bank now owns 46,037 shares of the basic materials company’s stock worth $4,915,000 after purchasing an additional 5,781 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG stock opened at $81.29 on Wednesday. Bunge Global SA has a 52 week low of $79.40 and a 52 week high of $114.92. The firm has a 50 day moving average of $88.30 and a two-hundred day moving average of $97.64. 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 stock has a market capitalization of $11.35 billion, a PE ratio of 10.29 and a beta of 0.68.

Analyst Upgrades and Downgrades

Separately, Stephens upgraded Bunge Global to a “strong-buy” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.