Bank of America Corp DE Sells 425,687 Shares of Bunge Global SA (NYSE:BG)

Bank of America Corp DE lessened its holdings in Bunge Global SA (NYSE:BG - Free Report) by 56.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 325,344 shares of the basic materials company's stock after selling 425,687 shares during the period. Bank of America Corp DE owned 0.23% of Bunge Global worth $25,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its position in shares of Bunge Global by 17.2% during the third quarter. Barclays PLC now owns 454,722 shares of the basic materials company's stock valued at $43,945,000 after buying an additional 66,681 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Bunge Global by 12.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company's stock valued at $2,935,000 after acquiring an additional 4,296 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Bunge Global by 7.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock valued at $302,000 after purchasing an additional 278 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Bunge Global by 17.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,345 shares of the basic materials company's stock worth $260,000 after purchasing an additional 489 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Bunge Global by 42.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 27,287 shares of the basic materials company's stock worth $2,122,000 after buying an additional 8,107 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Trading Down 0.4%

Shares of NYSE:BG traded down $0.31 during trading on Thursday, hitting $77.89. The company had a trading volume of 2,130,652 shares, compared to its average volume of 1,624,524. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The company has a fifty day simple moving average of $77.10 and a two-hundred day simple moving average of $78.56. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The company had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. During the same period last year, the company earned $3.04 earnings per share. Bunge Global's revenue was down 13.2% on a year-over-year basis. As a group, equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.59%. Bunge Global's payout ratio is 35.53%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley cut their price target on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Citigroup raised their target price 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. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Barclays lowered their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Stephens dropped their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note 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. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $81.60.

Bunge Global 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.