Van ECK Associates Corp Sells 33,444 Shares of Bunge Global SA (NYSE:BG)

Van ECK Associates Corp cut its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 483,850 shares of the basic materials company's stock after selling 33,444 shares during the period. Van ECK Associates Corp owned about 0.34% of Bunge Global worth $51,661,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Mather Group LLC. grew its stake in shares of Bunge Global by 12.4% in the second quarter. Mather Group LLC. now owns 843 shares of the basic materials company's stock worth $86,000 after purchasing an additional 93 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of Bunge Global by 3.9% in the first quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company's stock worth $265,000 after acquiring an additional 96 shares during the period. Blue Trust Inc. boosted its holdings in Bunge Global by 52.3% in the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 102 shares during the last quarter. CWM LLC lifted its position in shares of Bunge Global by 4.1% in the 1st quarter. CWM LLC now owns 2,778 shares of the basic materials company's stock worth $285,000 after purchasing an additional 110 shares during the period. Finally, Czech National Bank boosted its stake in shares of Bunge Global by 0.5% in the 1st quarter. Czech National Bank now owns 25,563 shares of the basic materials company's stock valued at $2,621,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of Bunge Global from a "buy" rating to a "neutral" rating and lowered their target price 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 given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.

Bunge Global Trading Up 0.3 %

Shares of NYSE:BG traded up $0.32 during mid-day trading on Friday, hitting $101.38. The company had a trading volume of 1,218,797 shares, compared to its average volume of 1,496,336. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 1.10. Bunge Global SA has a one year low of $86.10 and a one year high of $115.84. The firm has a fifty day moving average price of $104.81 and a 200 day moving average price of $102.36. The company has a market capitalization of $14.35 billion, a PE ratio of 8.16 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.06). The company had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The company's revenue for the quarter was down 12.0% on a year-over-year basis. During the same period last year, the firm posted $3.72 earnings per share. As a group, research analysts forecast that Bunge Global SA will post 9.4 EPS for the current 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.