Bank of America Corp DE Cuts Position in Bunge Global SA (NYSE:BG)

Bank of America Corp DE reduced its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 56.7% during the 4th quarter, according to the company in its most recent 13F 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 quarter. Bank of America Corp DE owned 0.23% of Bunge Global worth $25,299,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Bunge Global by 9.5% in the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock valued at $18,815,000 after buying an additional 20,942 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Bunge Global by 7.7% in 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 buying an additional 278 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Bunge Global by 39.6% in the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock valued at $1,665,000 after buying an additional 6,077 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Bunge Global by 12.8% in 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 buying an additional 4,296 shares in the last quarter. Finally, Orca Wealth Management LLC bought a new position in Bunge Global in the fourth quarter valued at about $1,238,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BG has been the subject of several research reports. Morgan Stanley dropped their target price on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Barclays cut their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Bank of America cut their price objective on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Stephens cut their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Citigroup lifted their price objective on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $81.60.

Bunge Global Trading Up 0.6%

BG stock traded up $0.43 during mid-day trading on Friday, reaching $78.23. The company's stock had a trading volume of 1,272,045 shares, compared to its average volume of 1,630,116. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The business's 50 day moving average price is $77.23 and its 200 day moving average price is $78.42. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92.

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

Bunge Global Dividend Announcement

The company 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. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.58%. Bunge Global's dividend payout ratio is 35.53%.

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.