Balyasny Asset Management L.P. Sells 373,423 Shares of Bunge Global SA (NYSE:BG)

Balyasny Asset Management L.P. lowered its stake in Bunge Global SA (NYSE:BG - Free Report) by 76.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,611 shares of the basic materials company's stock after selling 373,423 shares during the period. Balyasny Asset Management L.P. owned 0.08% of Bunge Global worth $8,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC raised its holdings in Bunge Global by 17.2% in the 3rd quarter. Barclays PLC now owns 454,722 shares of the basic materials company's stock valued at $43,945,000 after buying an additional 66,681 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Bunge Global during the third quarter valued at $34,000. Franklin Resources Inc. lifted its holdings in shares of Bunge Global by 16.9% during the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company's stock worth $26,371,000 after purchasing an additional 39,646 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Bunge Global by 2.7% during the third quarter. Principal Financial Group Inc. now owns 177,218 shares of the basic materials company's stock worth $17,126,000 after purchasing an additional 4,733 shares during the period. Finally, Czech National Bank grew its stake in shares of Bunge Global by 4.9% in the fourth quarter. Czech National Bank now owns 30,274 shares of the basic materials company's stock worth $2,354,000 after purchasing an additional 1,419 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on BG. Stephens cut their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday. Morgan Stanley cut their price objective on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Barclays reduced their target price on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Bank of America lowered their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, Citigroup boosted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Bunge Global presently has a consensus rating of "Hold" and an average price target of $81.60.

Bunge Global Trading Up 3.7%

Shares of Bunge Global stock traded up $2.85 on Monday, reaching $80.20. 2,458,871 shares of the company's stock were exchanged, compared to its average volume of 1,599,096. The company has a market capitalization of $10.78 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm's 50-day moving average is $76.22 and its two-hundred day moving average is $78.71.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.54. The business had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Bunge Global's revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 earnings per share. Sell-side analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.80 annualized dividend and a yield of 3.49%. This is a positive change from Bunge Global's previous quarterly dividend of $0.68. Bunge Global's dividend payout ratio is presently 34.52%.

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.