Swiss National Bank Sells 6,300 Shares of Bunge Global SA (NYSE:BG)

Swiss National Bank trimmed its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 393,800 shares of the basic materials company's stock after selling 6,300 shares during the period. Swiss National Bank owned approximately 0.29% of Bunge Global worth $30,094,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in Bunge Global by 12.2% in the 1st 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 last quarter. Allworth Financial LP raised its stake in Bunge Global by 18.4% during the first quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock worth $76,000 after buying an additional 146 shares during the last quarter. Moors & Cabot Inc. raised its stake in Bunge Global by 2.1% during the first quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company's stock worth $588,000 after buying an additional 158 shares during the last quarter. DoubleLine ETF Adviser LP increased its stake in 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 purchasing an additional 183 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in Bunge Global by 24.9% in the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 199 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Down 0.4%

NYSE:BG traded down $0.33 on Friday, reaching $81.77. 1,131,009 shares of the stock traded hands, compared to its average volume of 1,969,521. The company's fifty day simple moving average is $79.39 and its 200 day simple moving average is $76.91. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $101.81. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 5.05 and a beta of 0.67. 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 (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.12. The company had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 earnings per share. Equities analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be issued a $0.70 dividend. This represents a dividend yield of 342.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Bunge Global's payout ratio is 27.97%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BG shares. Stephens cut their price target 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. Morgan Stanley set a $83.00 price target on shares of Bunge Global and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Bunge Global currently has an average rating of "Hold" and a consensus target price of $83.40.

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.