Victory Capital Management Inc. Acquires 125,287 Shares of Bunge Global SA (NYSE:BG)

Victory Capital Management Inc. raised its position in Bunge Global SA (NYSE:BG) by 2,840.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,698 shares of the basic materials company’s stock after purchasing an additional 125,287 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Bunge Global worth $12,534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BG. Aigen Investment Management LP acquired a new stake in Bunge Global during the third quarter worth approximately $468,000. GSA Capital Partners LLP grew its stake in Bunge Global by 38.2% during the third quarter. GSA Capital Partners LLP now owns 14,769 shares of the basic materials company’s stock worth $1,427,000 after purchasing an additional 4,084 shares during the period. Versor Investments LP grew its stake in Bunge Global by 100.6% during the third quarter. Versor Investments LP now owns 8,016 shares of the basic materials company’s stock worth $775,000 after purchasing an additional 4,020 shares during the period. Meixler Investment Management Ltd. acquired a new stake in Bunge Global during the third quarter worth approximately $463,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Bunge Global by 14.2% in the third quarter. Crossmark Global Holdings Inc. now owns 19,180 shares of the basic materials company’s stock worth $1,853,000 after acquiring an additional 2,382 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Down 1.6 %

BG stock opened at $88.08 on Thursday. Bunge Global SA has a twelve month low of $82.18 and a twelve month high of $114.92. 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’s 50 day moving average is $92.55 and its 200-day moving average is $100.09. The firm has a market capitalization of $12.30 billion, a PE ratio of 11.15 and a beta of 0.67.

Analysts Set New Price Targets

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.