TD Asset Management Inc Has $3.74 Million Position in Bunge Global SA (NYSE:BG)

Key Points

• TD Asset Management Inc reduced its stake in Bunge Global SA by 42.5%, owning 48,912 shares after selling 36,137 shares, which were valued at approximately $3.74 million at the end of the last quarter.
• Bunge Global reported $1.31 earnings per share for the last quarter, beating expectations, although its revenue was down by 3.6% year-over-year.
• The company announced a quarterly dividend of $0.70, resulting in an annualized yield of 3.6%, with a payout ratio of 27.97%.

TD Asset Management Inc trimmed its stake in Bunge Global SA (NYSE:BG - Free Report) by 42.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,912 shares of the basic materials company's stock after selling 36,137 shares during the period. TD Asset Management Inc's holdings in Bunge Global were worth $3,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BG. SBI Securities Co. Ltd. boosted its holdings in shares of Bunge Global by 12.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock valued at $95,000 after buying an additional 135 shares during the period. Allworth Financial LP lifted its position in Bunge Global by 18.4% in the 1st quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 146 shares in the last quarter. DoubleLine ETF Adviser LP lifted its position in Bunge Global by 2.4% in the 4th 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. Cullen Frost Bankers Inc. boosted its stake in Bunge Global by 24.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock worth $76,000 after purchasing an additional 199 shares during the period. Finally, Spire Wealth Management raised its stake in shares of Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 222 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of NYSE BG traded down $1.02 during midday trading on Wednesday, hitting $81.39. 1,313,519 shares of the company's stock were exchanged, compared to its average volume of 1,827,005. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $101.81. The company's 50 day moving average price is $78.51 and its 200 day moving average price is $76.68. 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 firm has a market capitalization of $10.94 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 4.98 and a beta of 0.67.

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

Bunge Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 27.97%.

Wall Street Analyst Weigh In

BG has been the subject of a number of research reports. Stephens decreased their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Citigroup lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.