Banque Cantonale Vaudoise Reduces Stake in Bunge Global SA (NYSE:BG)

Banque Cantonale Vaudoise lessened its position in shares of Bunge Global SA (NYSE:BG) by 21.8% in the second quarter, Holdings Channel reports. The fund owned 3,391 shares of the basic materials company’s stock after selling 944 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Bunge Global were worth $362,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in Bunge Global in the second quarter worth approximately $1,481,000. Searle & CO. raised its holdings in Bunge Global by 2.0% in the 2nd quarter. Searle & CO. now owns 17,384 shares of the basic materials company’s stock worth $1,856,000 after purchasing an additional 334 shares during the period. Empirical Finance LLC purchased a new position in Bunge Global during the second quarter valued at $615,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Bunge Global by 1.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,220 shares of the basic materials company’s stock valued at $1,625,000 after purchasing an additional 251 shares during the period. Finally, Atlas Capital Advisors LLC grew its holdings in Bunge Global by 261.3% during the second quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

NYSE:BG opened at $101.38 on Tuesday. The stock has a market cap of $14.35 billion, a PE ratio of 8.16 and a beta of 0.67. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $104.67 and its two-hundred day simple moving average is $102.63. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $115.84.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period last year, the business posted $3.72 EPS. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, analysts forecast that Bunge Global SA will post 9.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $118.00.

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.