Levin Capital Strategies L.P. Has $330,000 Holdings in Bunge Global SA (NYSE:BG)

Key Points

• Levin Capital Strategies L.P. reduced its holdings in Bunge Global SA by 59.2% in Q1, now owning 4,323 shares worth $330,000.
• Bunge Global announced a quarterly dividend of $0.70, with a dividend yield of 3.5% and a payout ratio of 27.97%.
• Analysts have set a consensus price target of $81.60 for Bunge Global, with the stock currently rated as "Hold" by the majority.

Levin Capital Strategies L.P. decreased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 59.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,323 shares of the basic materials company's stock after selling 6,282 shares during the period. Levin Capital Strategies L.P.'s holdings in Bunge Global were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BG. UMB Bank n.a. boosted its stake 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 worth $32,000 after acquiring an additional 261 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in 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 purchasing an additional 359 shares during the last quarter. Riverview Trust Co raised its position in shares of Bunge Global by 130.8% in the first quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 255 shares during the period. NBC Securities Inc. acquired a new stake in shares of Bunge Global in the first quarter worth $42,000. Finally, Spire Wealth Management lifted its stake in shares of Bunge Global by 66.5% in the first quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock worth $42,000 after buying an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stephens dropped their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Stock Performance

BG stock traded up $1.76 during trading on Thursday, reaching $82.73. 1,829,851 shares of the stock were exchanged, compared to its average volume of 1,907,967. The stock has a 50 day simple moving average of $78.62 and a 200-day simple moving average of $76.73. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $11.12 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 5.00 and a beta of 0.67. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $101.81.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The business had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same period in the previous year, the business earned $1.73 EPS. The firm's revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently declared 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 yield of 3.4%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio is 27.97%.

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.