LSV Asset Management Sells 55,230 Shares of Bunge Global SA (NYSE:BG)

Key Points

• LSV Asset Management has reduced its holdings in Bunge Global SA by 2.6%, now owning approximately 1.56% of the company, worth around $159.91 million.
• The company reported earnings of $1.31 per share for the last quarter, exceeding analysts' estimates of $1.19, although revenue fell by 3.6% compared to the previous year.
• Bunge Global recently announced a quarterly dividend of $0.70 per share, representing an annualized dividend yield of 3.6% with a payout ratio of 27.97%.

LSV Asset Management reduced its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,092,519 shares of the basic materials company's stock after selling 55,230 shares during the period. LSV Asset Management owned about 1.56% of Bunge Global worth $159,910,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in Bunge Global by 12.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 135 shares during the period. Allworth Financial LP increased its position in Bunge Global by 18.4% during the 1st quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 146 shares during the period. Moors & Cabot Inc. raised its holdings in Bunge Global by 2.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company's stock worth $588,000 after purchasing an additional 158 shares during the last quarter. DoubleLine ETF Adviser LP lifted its position in shares of Bunge Global by 2.4% in the 4th quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock worth $615,000 after purchasing an additional 183 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of Bunge Global by 24.9% during the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock worth $76,000 after buying an additional 199 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BG. Stephens decreased their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Citigroup lifted their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $81.60.

Bunge Global Trading Up 3.4%

Shares of BG traded up $2.62 during trading hours on Monday, hitting $80.62. The company had a trading volume of 2,292,268 shares, compared to its average volume of 1,927,249. The stock's 50 day moving average price is $78.40 and its 200 day moving average price is $76.63. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $101.81. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The firm has a market cap of $10.84 billion, a P/E ratio of 8.05, a P/E/G ratio of 3.86 and a beta of 0.67.

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, topping analysts' consensus estimates of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Bunge Global's revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. Bunge Global's dividend payout ratio (DPR) 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.