Bunge Global SA (NYSE:BG) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in Bunge Global SA (NYSE:BG - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 701,460 shares of the basic materials company's stock after selling 378,600 shares during the period. Nuveen Asset Management LLC owned about 0.50% of Bunge Global worth $54,546,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its position in Bunge Global by 3.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock valued at $351,000 after purchasing an additional 170 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Bunge Global by 25.4% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock valued at $68,000 after acquiring an additional 178 shares in the last quarter. DoubleLine ETF Adviser LP raised its holdings in shares of Bunge Global by 2.4% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock valued at $615,000 after acquiring an additional 183 shares in the last quarter. Allworth Financial LP lifted its stake in Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock worth $62,000 after acquiring an additional 194 shares during the period. Finally, Abbot Financial Management Inc. grew its holdings in Bunge Global by 0.9% during the 4th quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock worth $1,786,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Stephens reduced 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 upped their target price on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley cut their price target on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Finally, Barclays decreased their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Bunge Global has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Stock Down 0.4%

BG traded down $0.31 during trading on Thursday, hitting $77.89. The stock had a trading volume of 2,130,652 shares, compared to its average volume of 1,624,524. The stock has a 50 day simple moving average of $77.10 and a two-hundred day simple moving average of $78.56. The company has a market capitalization of $10.47 billion, a PE ratio of 9.64, a PEG ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) last posted 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 return on equity of 11.73% and a net margin of 2.14%. The firm had revenue of $11.64 billion during the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter last year, the firm earned $3.04 EPS. The business's quarterly revenue was down 13.2% on a year-over-year basis. On average, research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders 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 annualized dividend and a dividend yield of 3.59%. Bunge Global's dividend payout ratio (DPR) is currently 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.