Bunge Global SA (NYSE:BG) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in Bunge Global SA (NYSE:BG) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 483,850 shares of the basic materials company’s stock after selling 33,444 shares during the quarter. Van ECK Associates Corp’s holdings in Bunge Global were worth $51,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BG. CWM LLC raised its stake in shares of Bunge Global by 7.9% in the 4th quarter. CWM LLC now owns 2,668 shares of the basic materials company’s stock worth $269,000 after buying an additional 196 shares in the last quarter. Truist Financial Corp raised its stake in shares of Bunge Global by 146.4% in the 4th quarter. Truist Financial Corp now owns 63,366 shares of the basic materials company’s stock worth $6,397,000 after buying an additional 37,645 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Bunge Global by 20.9% in the 4th quarter. Russell Investments Group Ltd. now owns 62,394 shares of the basic materials company’s stock worth $6,304,000 after buying an additional 10,797 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Bunge Global by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 106,863 shares of the basic materials company’s stock worth $10,788,000 after buying an additional 11,355 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of Bunge Global by 126.1% in the 4th quarter. Natixis Advisors L.P. now owns 27,400 shares of the basic materials company’s stock worth $2,766,000 after buying an additional 15,283 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and decreased their target price for the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Up 0.3 %

Shares of BG stock traded up $0.32 on Friday, reaching $101.38. 1,218,797 shares of the company’s stock traded hands, compared to its average volume of 1,496,336. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $115.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 2.03. The company has a market capitalization of $14.35 billion, a P/E ratio of 8.16 and a beta of 0.67. The business’s 50 day moving average price is $104.81 and its two-hundred day moving average price is $102.36.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the prior year, the firm posted $3.72 EPS. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. On average, equities analysts forecast that Bunge Global SA will post 9.4 earnings per share for the current year.

Bunge Global Company 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.