Avantax Advisory Services Inc. Trims Stake in Bunge Global SA (NYSE:BG)

Key Points

• Avantax Advisory Services Inc. has significantly reduced its stake in Bunge Global SA by 67.8%, now holding only 2,710 shares following the sale of 5,712 shares in the first quarter.
• Despite Avantax's reduction, other institutional investors have actively increased their positions in Bunge Global, with UMB Bank n.a. boosting its holdings by 163.1%.
• Bunge Global's recent earnings report exceeded analysts' expectations, reporting an earnings per share (EPS) of $1.31 against a consensus estimate of $1.19, although revenue was down 3.6% year-over-year.

Avantax Advisory Services Inc. trimmed its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 67.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,710 shares of the basic materials company's stock after selling 5,712 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Bunge Global were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BG. UMB Bank n.a. boosted its holdings in Bunge Global by 163.1% during the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 261 shares during the period. Riverview Trust Co boosted its holdings in Bunge Global by 130.8% during the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 255 shares during the period. Spire Wealth Management boosted its holdings in Bunge Global by 66.5% during the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 222 shares during the period. NBC Securities Inc. purchased a new stake in Bunge Global during the 1st quarter valued at about $42,000. Finally, Menard Financial Group LLC purchased a new stake in Bunge Global during the 4th quarter valued at about $47,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BG has been the subject of a number of recent analyst reports. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Stephens lowered their price target 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $81.60.

Bunge Global Stock Performance

BG stock opened at $83.04 on Friday. The company has a market cap of $11.16 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 5.12 and a beta of 0.67. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $101.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The stock's fifty day moving average price is $78.71 and its 200-day moving average price is $76.75.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.12. The firm had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. On average, equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 27.97%.

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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