Denali Advisors LLC Sells 211 Shares of Bunge Global SA (NYSE:BG)

Denali Advisors LLC trimmed its position in shares of Bunge Global SA (NYSE:BG) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,614 shares of the basic materials company’s stock after selling 211 shares during the period. Denali Advisors LLC’s holdings in Bunge Global were worth $706,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SteelPeak Wealth LLC bought a new stake in Bunge Global in the first quarter valued at $2,137,000. Avantax Advisory Services Inc. bought a new stake in shares of Bunge Global during the 1st quarter valued at about $899,000. Chevy Chase Trust Holdings LLC increased its position in shares of Bunge Global by 2,975.7% during the first quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock valued at $8,249,000 after buying an additional 77,844 shares during the period. Bleakley Financial Group LLC raised its stake in Bunge Global by 17.9% in the first quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock worth $4,247,000 after buying an additional 6,281 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in Bunge Global by 22,962.5% in the first quarter. AdvisorNet Financial Inc now owns 7,380 shares of the basic materials company’s stock worth $757,000 after buying an additional 7,348 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

BG stock opened at $97.69 on Wednesday. The stock has a market capitalization of $13.83 billion, a PE ratio of 7.87 and a beta of 0.65. The stock’s 50 day simple moving average is $102.57 and its 200 day simple moving average is $102.97. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $114.92. The company has a current ratio of 2.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company earned $3.72 earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts forecast that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bunge Global currently 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.