Van ECK Associates Corp Purchases 63,800 Shares of Bunge Global SA (NYSE:BG)

Van ECK Associates Corp raised its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 13.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 547,650 shares of the basic materials company's stock after purchasing an additional 63,800 shares during the period. Van ECK Associates Corp owned 0.39% of Bunge Global worth $48,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BG. Pacer Advisors Inc. lifted its stake in Bunge Global by 26.5% during the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company's stock valued at $449,614,000 after buying an additional 883,127 shares in the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 121,080 shares during the period. LSV Asset Management lifted its position 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 worth $225,629,000 after purchasing an additional 203,910 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 184,245 shares during the period. Finally, Millennium Management LLC grew 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 valued at $94,557,000 after purchasing an additional 878,653 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

Bunge Global Stock Performance

Shares of NYSE:BG traded up $1.38 on Monday, hitting $84.00. 2,802,523 shares of the company were exchanged, compared to its average volume of 1,529,599. The company's 50 day moving average price is $95.66 and its two-hundred day moving average price is $101.63. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 10.63 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 2.07. Bunge Global SA has a one year low of $82.45 and a one year high of $114.92.

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.