Barings LLC Sells 11,434 Shares of Bunge Global SA (NYSE:BG)

Key Points

• Barings LLC reduced its stake in Bunge Global SA by 20.3%, selling 11,434 shares, resulting in ownership of 45,003 shares valued at approximately $3.44 million.
• Institutional investors hold 86.23% of Bunge Global's stock, with notable increases in holdings from firms like FMR LLC and Invesco Ltd..
• Bunge Global recently announced a quarterly dividend of $0.70 per share, equating to an annual yield of 3.6% and a payout ratio of 27.97%.

Barings LLC cut its position in Bunge Global SA (NYSE:BG - Free Report) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,003 shares of the basic materials company's stock after selling 11,434 shares during the quarter. Barings LLC's holdings in Bunge Global were worth $3,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of Bunge Global by 25.3% in the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock valued at $269,488,000 after buying an additional 699,889 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bunge Global by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company's stock valued at $268,205,000 after buying an additional 34,890 shares in the last quarter. Invesco Ltd. grew its stake in shares of Bunge Global by 28.6% in the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after buying an additional 713,561 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bunge Global by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company's stock valued at $193,379,000 after buying an additional 183,701 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Bunge Global by 5.0% in the 4th quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company's stock valued at $184,167,000 after acquiring an additional 112,333 shares during the period. 86.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BG shares. Citigroup increased their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Stephens dropped their price target 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $81.60.

Bunge Global Stock Performance

BG opened at $78.00 on Friday. The business has a fifty day simple moving average of $78.40 and a 200 day simple moving average of $76.68. The company has a market capitalization of $10.48 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 3.94 and a beta of 0.67. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $102.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.12.

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, beating the consensus estimate of $1.19 by $0.12. The business had revenue of $12.77 billion during 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 firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. Research analysts expect that Bunge Global SA will post 7.94 EPS 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 paid a $0.70 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.6%. Bunge Global's payout ratio is 27.97%.

About Bunge Global

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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