Mitsubishi UFJ Asset Management Co. Ltd. Lowers Position in Bunge Global SA (NYSE:BG)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Bunge Global SA by 6.3%, owning now 265,625 shares valued at approximately $20.3 million.
• Bunge Global recently reported earnings of $1.31 per share, exceeding analyst expectations, despite a 3.6% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.70 per share, equating to an annualized dividend yield of 3.4%.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,625 shares of the basic materials company's stock after selling 17,905 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Bunge Global worth $20,299,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Bunge Global by 6.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,603,669 shares of the basic materials company's stock valued at $122,552,000 after purchasing an additional 101,586 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Bunge Global during the 1st quarter valued at approximately $6,014,000. Legacy Capital Group California Inc. bought a new position in shares of Bunge Global during the 1st quarter valued at approximately $264,000. ING Groep NV grew its stake in shares of Bunge Global by 232.8% during the 1st quarter. ING Groep NV now owns 59,344 shares of the basic materials company's stock valued at $4,535,000 after acquiring an additional 41,511 shares during the period. Finally, Manchester Capital Management LLC grew its stake in shares of Bunge Global by 588.5% during the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 359 shares during the period. Institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley set a $83.00 price objective on Bunge Global and gave the company an "equal weight" rating in a research note on Tuesday. Stephens dropped their price target on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.40.

Bunge Global Stock Down 1.4%

Shares of BG stock traded down $1.13 on Thursday, hitting $82.11. The stock had a trading volume of 1,355,462 shares, compared to its average volume of 1,831,517. 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 business has a 50 day moving average price of $79.08 and a 200 day moving average price of $76.86. The company has a market cap of $11.04 billion, a PE ratio of 8.20, a P/E/G ratio of 5.09 and a beta of 0.67. Bunge Global SA has a one year low of $67.40 and a one year high of $101.81.

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

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid 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 dividend yield of 3.4%. Bunge Global's payout ratio is presently 27.97%.

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.