Bank of New York Mellon Corp Sells 31,300 Shares of Bunge Global SA (NYSE:BG)

Bank of New York Mellon Corp lowered its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 809,287 shares of the basic materials company's stock after selling 31,300 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of Bunge Global worth $61,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BG. UMB Bank n.a. raised its position in shares of 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 buying an additional 261 shares in the last quarter. Riverview Trust Co raised its position in shares of 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 buying an additional 255 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Bunge Global during the 1st quarter valued at $42,000. Spire Wealth Management raised its position in Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock worth $42,000 after purchasing an additional 222 shares during the period. Finally, Menard Financial Group LLC purchased a new position in Bunge Global in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BG shares. Stephens decreased their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Citigroup lifted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $81.60.

Bunge Global Trading Up 0.2%

NYSE:BG traded up $0.16 during trading hours on Friday, reaching $76.70. The company's stock had a trading volume of 1,524,018 shares, compared to its average volume of 1,708,015. The firm has a 50-day simple moving average of $79.29 and a 200-day simple moving average of $76.91. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 3.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The firm had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter in the previous year, the company earned $3.04 earnings per share. The company's revenue for the quarter was down 13.2% compared to the same quarter last year. Research analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Tuesday, February 17th. Bunge Global's payout ratio is 35.53%.

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.