Victory Capital Management Inc. Cuts Stock Holdings in Bunge Global SA (NYSE:BG)

Victory Capital Management Inc. reduced its position in shares of Bunge Global SA (NYSE:BG) by 86.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,411 shares of the basic materials company’s stock after selling 29,122 shares during the period. Victory Capital Management Inc.’s holdings in Bunge Global were worth $471,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. raised its holdings in Bunge Global by 12.4% during 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 in the last quarter. RFG Advisory LLC grew its position in Bunge Global by 3.9% during the first quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company’s stock worth $265,000 after buying an additional 96 shares during the period. Blue Trust Inc. grew its position in Bunge Global by 52.3% during the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after buying an additional 102 shares during the period. CWM LLC grew its position in Bunge Global by 4.1% during the first quarter. CWM LLC now owns 2,778 shares of the basic materials company’s stock worth $285,000 after buying an additional 110 shares during the period. Finally, Czech National Bank grew its position in Bunge Global by 0.5% during the first quarter. Czech National Bank now owns 25,563 shares of the basic materials company’s stock worth $2,621,000 after buying an additional 116 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered 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 report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Stock Down 1.6 %

BG stock opened at $98.80 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. The firm has a market capitalization of $13.99 billion, a PE ratio of 7.95 and a beta of 0.65. The company’s 50 day simple moving average is $101.61 and its 200-day simple moving average is $103.17. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $114.92.

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

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.