Allspring Global Investments Holdings LLC Has $736,000 Stake in Bunge Global SA (NYSE:BG)

Allspring Global Investments Holdings LLC reduced its stake in Bunge Global SA (NYSE:BG - Free Report) by 79.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,453 shares of the basic materials company's stock after selling 37,484 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Bunge Global were worth $736,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in shares of Bunge Global by 163.1% during the first quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock valued at $32,000 after buying an additional 261 shares during the last quarter. Riverview Trust Co boosted its stake in Bunge Global by 130.8% during the first quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock worth $34,000 after buying an additional 255 shares in the last quarter. NBC Securities Inc. acquired a new stake in Bunge Global during the first quarter worth $42,000. Spire Wealth Management increased its holdings in Bunge Global by 66.5% in the 1st 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 period. Finally, Menard Financial Group LLC bought a new position in shares of Bunge Global during the 4th quarter worth about $47,000. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $75.64 on Thursday. The firm has a 50 day simple moving average of $79.37 and a 200 day simple moving average of $76.94. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 1.12. The firm has a market cap of $10.17 billion, a P/E ratio of 9.60, a P/E/G ratio of 3.76 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating 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 2.13% and a return on equity of 9.98%. Bunge Global's revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 earnings per share. Sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is presently 35.53%.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of recent research reports. Stephens dropped their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Citigroup upped their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Bunge Global currently has an average rating of "Hold" and an average price target 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.

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