Thrivent Financial for Lutherans Decreases Stock Position in Bunge Global SA (NYSE:BG)

Thrivent Financial for Lutherans trimmed its position in shares of Bunge Global SA (NYSE:BG) by 3.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,981 shares of the basic materials company’s stock after selling 211 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bunge Global were worth $639,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BG. Blue Trust Inc. boosted its holdings in shares of Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Bunge Global by 185.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Bunge Global in the 2nd quarter worth $40,000. Atlas Capital Advisors LLC increased its stake in shares of Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 277 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Bunge Global during the 1st quarter worth $46,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Price Performance

Bunge Global stock opened at $98.23 on Wednesday. The company’s 50 day simple moving average is $97.95 and its 200-day simple moving average is $103.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global SA has a 1 year low of $86.10 and a 1 year high of $114.92. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 7.91 and a beta of 0.64.

Bunge Global (NYSE:BG) last announced its 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 firm had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the firm earned $3.72 EPS. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities research analysts expect that Bunge Global SA will post 9.3 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and dropped their price target for the company 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global 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.