Allianz Asset Management GmbH Cuts Position in Bunge Global SA (NYSE:BG)

Allianz Asset Management GmbH trimmed its position in Bunge Global SA (NYSE:BG - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,170 shares of the basic materials company's stock after selling 18,863 shares during the period. Allianz Asset Management GmbH owned approximately 0.18% of Bunge Global worth $18,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after acquiring an additional 699,889 shares during the period. Geode Capital Management LLC grew its holdings in Bunge Global by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company's stock valued at $268,205,000 after purchasing an additional 34,890 shares during the last quarter. Invesco Ltd. grew its holdings in Bunge Global by 28.6% in the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after purchasing an additional 713,561 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Bunge Global by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company's stock valued at $193,379,000 after purchasing an additional 183,701 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Bunge Global by 5.0% in the fourth quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company's stock valued at $184,167,000 after purchasing an additional 112,333 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BG. Stephens lowered 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, May 8th. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $81.60.

Bunge Global Price Performance

Shares of BG traded down $0.25 during trading hours on Monday, reaching $77.02. 193,906 shares of the company traded hands, compared to its average volume of 1,787,030. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $10.35 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 3.83 and a beta of 0.67. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.82. The stock has a fifty day simple moving average of $78.48 and a 200 day simple moving average of $76.72.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.54. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The firm had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $13.18 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, research analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.64%. Bunge Global's dividend payout ratio (DPR) is presently 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.