Chevy Chase Trust Holdings LLC Cuts Holdings in Bunge Global SA (NYSE:BG)

Chevy Chase Trust Holdings LLC cut its holdings in Bunge Global SA (NYSE:BG - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,004 shares of the basic materials company's stock after selling 3,266 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Bunge Global worth $5,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake 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 purchasing an additional 261 shares during the last quarter. Riverview Trust Co raised its position in shares of Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock valued at $34,000 after buying an additional 255 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Bunge Global in the 1st quarter valued at approximately $42,000. Menard Financial Group LLC acquired a new position in shares of Bunge Global in the 4th quarter valued at approximately $47,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Bunge Global by 151.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the basic materials company's stock valued at $47,000 after buying an additional 373 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented 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. Citigroup lifted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Down 2.3%

Bunge Global stock traded down $1.91 during midday trading on Friday, hitting $80.39. 2,375,444 shares of the stock were exchanged, compared to its average volume of 1,668,398. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 4.08 and a beta of 0.68. The business's 50-day moving average price is $79.65 and its 200-day moving average price is $77.14. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The business had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same period in the previous year, the company earned $3.04 earnings per share. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. On average, research analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is presently 35.53%.

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.