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

Van ECK Associates Corp raised its position in Bunge Global SA (NYSE:BG) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 547,650 shares of the basic materials company’s stock after acquiring an additional 63,800 shares during the period. Van ECK Associates Corp owned approximately 0.39% of Bunge Global worth $48,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of 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 worth $449,614,000 after purchasing an additional 883,127 shares during the period. Millennium Management LLC increased its stake in shares of 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 worth $94,557,000 after purchasing an additional 878,653 shares in the last quarter. LSV Asset Management boosted its holdings in Bunge Global by 33.4% in the 1st quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock worth $195,743,000 after buying an additional 478,559 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Bunge Global during the 1st quarter worth approximately $26,817,000. Finally, AQR Capital Management LLC raised 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 valued at $103,576,000 after acquiring an additional 184,245 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

NYSE BG opened at $82.62 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 2.07. The stock’s fifty day moving average is $95.66 and its two-hundred day moving average is $101.66. The firm has a market capitalization of $11.54 billion, a P/E ratio of 10.46 and a beta of 0.67. Bunge Global SA has a fifty-two week low of $82.45 and a fifty-two week high of $114.92.

Wall Street Analyst Weigh In

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.