Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Bunge Global SA (NYSE:BG)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Bunge Global SA (NYSE:BG) in the 3rd quarter, Holdings Channel reports. The fund purchased 21,046 shares of the basic materials company’s stock, valued at approximately $2,034,000.

Other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise raised its position in Bunge Global by 37.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 4,666 shares of the basic materials company’s stock valued at $451,000 after purchasing an additional 1,275 shares in the last quarter. Prospera Financial Services Inc increased its stake in shares of Bunge Global by 5.5% during the third quarter. Prospera Financial Services Inc now owns 4,929 shares of the basic materials company’s stock valued at $477,000 after buying an additional 258 shares during the period. Caprock Group LLC raised its holdings in shares of Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after acquiring an additional 164 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Bunge Global by 1,585.3% in the third quarter. Mizuho Securities USA LLC now owns 184,000 shares of the basic materials company’s stock worth $17,782,000 after acquiring an additional 173,082 shares during the period. Finally, Empowered Funds LLC grew its holdings in Bunge Global by 74.6% during the 3rd quarter. Empowered Funds LLC now owns 111,645 shares of the basic materials company’s stock worth $10,789,000 after acquiring an additional 47,691 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $88.48 on Tuesday. The company has a market capitalization of $12.35 billion, a PE ratio of 11.20 and a beta of 0.67. The company has a 50-day simple moving average of $92.02 and a two-hundred day simple moving average of $99.72. Bunge Global SA has a one year low of $82.18 and a one year high of $114.92. 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 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.