AE Wealth Management LLC Reduces Position in Bunge Global SA (NYSE:BG)

AE Wealth Management LLC trimmed its holdings in Bunge Global SA (NYSE:BG - Free Report) by 38.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,665 shares of the basic materials company's stock after selling 5,971 shares during the period. AE Wealth Management LLC's holdings in Bunge Global were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. increased its stake in shares of Bunge Global by 12.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 135 shares in the last quarter. Allworth Financial LP increased its stake in shares of Bunge Global by 18.4% during the first quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 146 shares in the last quarter. DoubleLine ETF Adviser LP increased its stake in shares of Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock valued at $615,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Bunge Global by 24.9% during the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock valued at $76,000 after buying an additional 199 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Bunge Global by 66.5% during the first quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after buying an additional 222 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Stephens cut their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $81.60.

Bunge Global Stock Performance

BG stock traded down $1.51 on Friday, hitting $78.25. The company had a trading volume of 736,788 shares, compared to its average volume of 1,814,139. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $102.57. The company has a current ratio of 2.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.59. The stock's 50-day simple moving average is $78.40 and its 200 day simple moving average is $76.70. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 7.81, a P/E/G ratio of 3.97 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $12.77 billion for the quarter, compared to analysts' expectations of $12.57 billion. During the same quarter last year, the company posted $1.73 earnings per share. The firm's quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 35.53%.

About Bunge Global

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.