Exchange Traded Concepts LLC Sells 10,425 Shares of Bunge Global SA $BG

Exchange Traded Concepts LLC trimmed its position in shares of Bunge Global SA (NYSE:BG) by 63.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,984 shares of the basic materials company’s stock after selling 10,425 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Bunge Global were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Cromwell Holdings LLC raised its holdings in Bunge Global by 4,175.0% during the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after buying an additional 334 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Bunge Global in the 2nd quarter worth about $29,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Bunge Global in the 2nd quarter worth about $31,000. MUFG Securities EMEA plc bought a new position in Bunge Global in the 2nd quarter valued at about $32,000. Finally, Rakuten Securities Inc. boosted its stake in Bunge Global by 57.7% during the 2nd quarter. Rakuten Securities Inc. now owns 481 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Activity

In related news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the sale, the vice president owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.

Bunge Global Price Performance

Shares of NYSE:BG opened at $89.71 on Wednesday. The company’s 50-day moving average is $93.83 and its 200 day moving average is $85.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The company has a market capitalization of $17.35 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $99.55.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The firm’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 earnings per share. On average, equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BG shares. CICC Research raised their target price on Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Zacks Research upgraded Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. UBS Group lifted their price objective on shares of Bunge Global from $100.00 to $108.00 in a report on Wednesday, December 24th. Citigroup reiterated a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $109.00.

Bunge Global Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.