Manning & Napier Advisors LLC Lowers Stock Position in Bunge Global SA (NYSE:BG)

Manning & Napier Advisors LLC lessened its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 56.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,592 shares of the basic materials company's stock after selling 12,546 shares during the quarter. Manning & Napier Advisors LLC's holdings in Bunge Global were worth $733,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BG. UMB Bank n.a. lifted its position in shares of Bunge Global by 163.1% during the first quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after purchasing an additional 261 shares in the last quarter. Riverview Trust Co lifted its position in shares of Bunge Global by 130.8% during the first quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock worth $34,000 after purchasing an additional 255 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Bunge Global during the first quarter worth about $42,000. Menard Financial Group LLC acquired a new stake in Bunge Global in the fourth quarter valued at approximately $47,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Bunge Global by 151.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 373 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Bunge Global Stock Down 0.6%

NYSE:BG traded down $0.46 during mid-day trading on Tuesday, hitting $83.69. The stock had a trading volume of 1,836,574 shares, compared to its average volume of 1,661,978. The company has a current ratio of 2.04, a quick ratio of 1.12 and a debt-to-equity ratio of 0.41. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The stock has a 50-day simple moving average of $79.47 and a two-hundred day simple moving average of $77.13. The company has a market capitalization of $11.25 billion, a PE ratio of 10.62, a PEG ratio of 4.17 and a beta of 0.68.

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 for the quarter, topping 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 company had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter last year, the company earned $3.04 earnings per share. The firm's revenue for the quarter was down 13.2% on a year-over-year basis. On average, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Bunge Global's payout ratio is currently 35.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BG. Citigroup raised their target price on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Stephens reduced 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Bunge Global has an average rating of "Hold" and an average target price of $81.60.

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.