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

M&T Bank Corp reduced its position in shares of Bunge Global SA (NYSE:BG) by 9.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,637 shares of the basic materials company’s stock after selling 606 shares during the period. M&T Bank Corp’s holdings in Bunge Global were worth $544,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in 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 purchasing an additional 883,127 shares during the last quarter. Millennium Management LLC grew its position in shares of Bunge Global by 12,617.1% in the 2nd quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock valued at $94,557,000 after buying an additional 878,653 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new stake in Bunge Global during the 3rd quarter worth $54,330,000. State Street Corp lifted its position in Bunge Global by 7.6% in the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after acquiring an additional 500,897 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Bunge Global by 10.7% in the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock valued at $225,629,000 after acquiring an additional 203,910 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Price Performance

Shares of BG opened at $81.29 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07. Bunge Global SA has a fifty-two week low of $79.40 and a fifty-two week high of $114.92. The firm has a 50-day simple moving average of $88.30 and a 200-day simple moving average of $97.64. The company has a market capitalization of $11.35 billion, a price-to-earnings 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 report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bunge Global has a consensus rating of “Moderate Buy” and an average 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.