Van ECK Associates Corp Cuts Stake in Bunge Global SA (NYSE:BG)

Van ECK Associates Corp lowered its stake in shares of Bunge Global SA (NYSE:BG) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 530,283 shares of the basic materials company’s stock after selling 17,367 shares during the period. Van ECK Associates Corp’s holdings in Bunge Global were worth $41,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 124 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Bunge Global by 0.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company’s stock worth $2,305,000 after purchasing an additional 144 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Bunge Global by 3.7% during the third quarter. V Square Quantitative Management LLC now owns 4,367 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 156 shares in the last quarter. Caprock Group LLC increased its stake in shares of Bunge Global by 2.2% during the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after purchasing an additional 164 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Bunge Global by 31.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Bunge Global stock opened at $69.85 on Friday. The firm has a 50 day simple moving average of $77.90 and a 200-day simple moving average of $88.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.10. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 8.65 and a beta of 0.69.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, analysts expect that Bunge Global SA will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BG shares. Barclays cut their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Bank of America dropped their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley dropped their price objective on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Stephens dropped their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

About Bunge Global

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.