Meeder Asset Management Inc. Sells 20,568 Shares of Bunge Global SA (NYSE:BG)

Key Points

• Meeder Asset Management Inc. reduced its stake in Bunge Global by 54.2%, holding 17,378 shares worth $1,328,000 at the end of the first quarter.
• Bunge Global's stock has seen recent fluctuations, currently trading at $76.72, down 0.7%, with a 1-year price range between $67.40 and $114.82.
• The company reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' expectations of $1.27, although revenue dropped by 13.2% compared to the same quarter last year.

Meeder Asset Management Inc. decreased its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 54.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 17,378 shares of the basic materials company's stock after selling 20,568 shares during the period. Meeder Asset Management Inc.'s holdings in Bunge Global were worth $1,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BG. UMB Bank n.a. boosted its position in shares of Bunge Global by 163.1% during the first quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after buying an additional 261 shares during the period. Riverview Trust Co raised its stake in Bunge Global by 130.8% in 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. Spire Wealth Management grew its position in Bunge Global by 66.5% during the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock worth $42,000 after acquiring an additional 222 shares during the last quarter. NBC Securities Inc. bought a new stake in Bunge Global in the first quarter valued at approximately $42,000. Finally, Menard Financial Group LLC bought a new position in Bunge Global during the fourth quarter worth $47,000. Institutional investors own 86.23% of the company's stock.

Bunge Global Trading Up 5.1%

Shares of NYSE BG traded up $3.89 during midday trading on Wednesday, hitting $80.23. 4,030,571 shares of the company traded hands, compared to its average volume of 1,813,612. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $107.44. The firm has a market cap of $10.78 billion, a P/E ratio of 10.18, a P/E/G ratio of 3.80 and a beta of 0.67. The stock has a 50-day moving average price of $78.32 and a 200 day moving average price of $76.69.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.12. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The firm had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. Bunge Global's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio is currently 35.53%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BG. Citigroup raised their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Stephens cut 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Bunge Global has an average 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.