Levin Capital Strategies L.P. Acquires 14,500 Shares of Bunge Global SA $BG

Levin Capital Strategies L.P. raised its holdings in Bunge Global SA (NYSE:BG) by 335.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,823 shares of the basic materials company’s stock after acquiring an additional 14,500 shares during the period. Levin Capital Strategies L.P.’s holdings in Bunge Global were worth $1,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MMA Asset Management LLC bought a new stake in shares of Bunge Global during the second quarter worth about $312,000. State of Michigan Retirement System grew its holdings in shares of Bunge Global by 3.7% during the second quarter. State of Michigan Retirement System now owns 48,000 shares of the basic materials company’s stock worth $3,853,000 after purchasing an additional 1,700 shares during the last quarter. Colrain Capital LLC grew its holdings in shares of Bunge Global by 2.1% during the second quarter. Colrain Capital LLC now owns 49,000 shares of the basic materials company’s stock worth $3,934,000 after purchasing an additional 1,000 shares during the last quarter. Tredje AP fonden bought a new stake in shares of Bunge Global during the second quarter worth about $1,109,000. Finally, Mission Wealth Management LP bought a new stake in shares of Bunge Global during the second quarter worth about $202,000. Institutional investors own 86.23% of the company’s stock.

Insider Activity at Bunge Global

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $81.73 per share, with a total value of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Bunge Global Price Performance

Bunge Global stock opened at $94.15 on Tuesday. The stock’s 50 day moving average is $85.91 and its 200 day moving average is $81.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The firm has a market cap of $18.84 billion, a P/E ratio of 9.41, a P/E/G ratio of 8.28 and a beta of 0.66. Bunge Global SA has a one year low of $67.40 and a one year high of $99.55.

Analysts Set New Price Targets

Several research firms have recently weighed in on BG. Morgan Stanley set a $95.00 price target on Bunge Global in a report on Monday, October 27th. Stephens boosted their price target on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. BMO Capital Markets boosted their price target on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. boosted their price target on Bunge Global from $95.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Zacks Research upgraded Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.43.

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.