Allianz Asset Management GmbH Has $18.74 Million Position in Bunge Global SA (NYSE:BG)

Allianz Asset Management GmbH reduced its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,170 shares of the basic materials company's stock after selling 18,863 shares during the quarter. Allianz Asset Management GmbH owned about 0.18% of Bunge Global worth $18,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. increased its stake in Bunge Global by 163.1% in the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after purchasing an additional 261 shares in the last quarter. Riverview Trust Co increased its stake in Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock worth $34,000 after purchasing an additional 255 shares in the last quarter. NBC Securities Inc. purchased a new position in Bunge Global in the 1st quarter worth about $42,000. Spire Wealth Management increased its stake in Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock worth $42,000 after purchasing an additional 222 shares in the last quarter. Finally, Menard Financial Group LLC purchased a new position in Bunge Global in the 4th quarter worth about $47,000. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Stock Up 0.4%

Shares of Bunge Global stock traded up $0.34 during trading on Friday, hitting $77.27. 1,073,683 shares of the stock traded hands, compared to its average volume of 1,856,902. The stock has a market cap of $10.38 billion, a P/E ratio of 9.81, a PEG ratio of 3.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The company has a fifty day moving average price of $78.48 and a two-hundred day moving average price of $76.73.

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

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.62%. Bunge Global's dividend payout ratio (DPR) is currently 35.53%.

Analyst Ratings Changes

A number of equities research analysts have commented on BG shares. Stephens decreased their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Citigroup raised their price objective on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Bunge Global presently has an average rating of "Hold" and an average target price of $81.60.

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.