Bunge Global SA $BG Shares Sold by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC reduced its stake in Bunge Global SA by 48.4%, now owning 3,982 shares valued at approximately $304,000.
• Financial performance showed a net margin decrease to 2.71% and a revenue drop of 3.6% year-over-year, with quarterly earnings of $1.31 per share surpassing expectations.
• Bunge Global recently announced a $0.70 dividend to be paid on September 2nd, representing a significant yield of 342.0% and a dividend payout ratio of 27.97%.

Freestone Capital Holdings LLC decreased its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 48.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,982 shares of the basic materials company's stock after selling 3,732 shares during the quarter. Freestone Capital Holdings LLC's holdings in Bunge Global were worth $304,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its position in shares of Bunge Global by 163.1% in the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after buying an additional 261 shares during the period. Manchester Capital Management LLC raised its position in shares of Bunge Global by 588.5% in the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock worth $32,000 after buying an additional 359 shares during the period. Riverview Trust Co raised its position in shares of Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock worth $34,000 after buying an additional 255 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Bunge Global by 197.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company's stock worth $39,000 after buying an additional 341 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Bunge Global in the 1st quarter worth $42,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Bunge Global Trading Down 1.4%

NYSE:BG opened at $80.60 on Tuesday. The business's 50-day moving average is $79.51 and its two-hundred day moving average is $76.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $101.81. The firm has a market capitalization of $16.12 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 5.05 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same period last year, the company posted $1.73 earnings per share. The firm's revenue was down 3.6% compared to the same quarter last year. Research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a yield of 342.0%. Bunge Global's dividend payout ratio (DPR) is 27.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BG. Stephens cut their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley set a $83.00 target price on Bunge Global and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Bunge Global has a consensus rating of "Hold" and an average price target of $83.40.

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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