Van ECK Associates Corp Sells 20,506 Shares of Bunge Global SA (NYSE:BG)

Van ECK Associates Corp lowered its holdings in shares of Bunge Global SA (NYSE:BG) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 589,331 shares of the basic materials company’s stock after selling 20,506 shares during the period. Van ECK Associates Corp owned 0.41% of Bunge Global worth $59,493,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P raised its stake in Bunge Global by 169.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 146 shares during the period. NewSquare Capital LLC acquired a new stake in shares of Bunge Global during the 4th quarter worth about $37,000. Rise Advisors LLC lifted its stake in shares of Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after buying an additional 117 shares during the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of Bunge Global during the 3rd quarter worth about $54,000. Finally, GAMMA Investing LLC acquired a new position in Bunge Global in the 4th quarter valued at about $62,000. Institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

BG has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price objective on Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Barclays lowered their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 23rd. Robert W. Baird reduced their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, January 23rd. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and lowered their target price for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Price Performance

Shares of Bunge Global stock traded down $2.57 on Tuesday, reaching $100.91. 307,180 shares of the stock were exchanged, compared to its average volume of 1,741,624. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The firm has a market cap of $14.29 billion, a PE ratio of 8.33 and a beta of 0.64. The firm’s 50 day moving average is $99.74 and its 200-day moving average is $99.96. Bunge Global SA has a one year low of $86.10 and a one year high of $116.59.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The firm had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same period in the prior year, the company earned $3.26 earnings per share. The company’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, analysts anticipate that Bunge Global SA will post 9.03 EPS for the current fiscal year.

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.