Principal Financial Group Inc. Buys 4,733 Shares of Bunge Global SA (NYSE:BG)

Principal Financial Group Inc. lifted its stake in Bunge Global SA (NYSE:BG) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,218 shares of the basic materials company’s stock after acquiring an additional 4,733 shares during the quarter. Principal Financial Group Inc.’s holdings in Bunge Global were worth $17,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. increased its position in shares of Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after purchasing an additional 883,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bunge Global by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after buying an additional 121,080 shares during the last quarter. LSV Asset Management grew its stake in shares of 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 buying an additional 203,910 shares in the last quarter. AQR Capital Management LLC increased its holdings in Bunge Global by 23.4% during the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after buying an additional 184,245 shares during the last quarter. Finally, Millennium Management LLC raised its position in Bunge Global by 12,617.1% during the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after acquiring an additional 878,653 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

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

Bunge Global Stock Performance

NYSE BG opened at $88.06 on Friday. The stock has a market cap of $12.30 billion, a PE ratio of 11.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07. The firm has a 50-day moving average of $93.15 and a 200-day moving average of $100.43. Bunge Global SA has a 52-week low of $82.18 and a 52-week high of $114.92.

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.