Bunge Global SA (NYSE:BG) is Old West Investment Management LLC’s 8th Largest Position

Old West Investment Management LLC increased its position in Bunge Global SA (NYSE:BG) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,043 shares of the basic materials company’s stock after buying an additional 7,489 shares during the period. Bunge Global comprises 4.2% of Old West Investment Management LLC’s portfolio, making the stock its 8th largest holding. Old West Investment Management LLC owned approximately 0.08% of Bunge Global worth $11,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BG. Tokio Marine Asset Management Co. Ltd. boosted its stake in Bunge Global by 6.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,949 shares of the basic materials company’s stock worth $405,000 after buying an additional 225 shares during the last quarter. Nordea Investment Management AB grew its stake in Bunge Global by 8.4% during the first quarter. Nordea Investment Management AB now owns 82,057 shares of the basic materials company’s stock worth $8,494,000 after buying an additional 6,366 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Bunge Global by 0.7% in the first quarter. Daiwa Securities Group Inc. now owns 27,655 shares of the basic materials company’s stock worth $2,835,000 after acquiring an additional 203 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Bunge Global in the 1st quarter valued at $1,951,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Bunge Global during the 1st quarter worth $102,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of BG opened at $84.73 on Wednesday. Bunge Global SA has a 52 week low of $82.18 and a 52 week high of $114.92. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 10.73 and a beta of 0.67. The stock has a 50 day moving average of $95.02 and a 200-day moving average of $101.30.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bunge Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

About Bunge Global

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.