Raiffeisen Bank International AG Trims Stake in Bunge Global SA (NYSE:BG)

Key Points

• Raiffeisen Bank International AG reduced its stake in Bunge Global SA by 56.2%, now owning only 3,381 shares valued at approximately $258,000.
• Bunge Global reported earnings per share (EPS) of $1.31 for the last quarter, exceeding analysts' expectations, while quarterly revenue decreased by 3.6% year-over-year.
• The company announced a quarterly dividend of $0.70, reflecting an annual yield of 3.4%, with the payment set for March 3rd, 2024.

Raiffeisen Bank International AG trimmed its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 56.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,381 shares of the basic materials company's stock after selling 4,331 shares during the period. Raiffeisen Bank International AG's holdings in Bunge Global were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its holdings 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 during the period. Manchester Capital Management LLC boosted its position in shares of Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 359 shares in the last quarter. Riverview Trust Co boosted 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 valued at $34,000 after purchasing an additional 255 shares in the last quarter. NBC Securities Inc. purchased a new stake in Bunge Global in the first quarter worth $42,000. Finally, Spire Wealth Management raised its holdings in 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 purchasing an additional 222 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Price Performance

Shares of BG traded up $0.29 during trading hours on Friday, reaching $83.04. 1,505,499 shares of the stock traded hands, compared to its average volume of 1,924,712. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $101.81. The company's 50-day moving average price is $78.71 and its two-hundred day moving average price is $76.76. The company has a market cap of $11.16 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 5.11 and a beta of 0.67.

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

Bunge Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be issued a $0.70 dividend. 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 27.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup lifted 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 lowered their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $81.60.

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.