Connor Clark & Lunn Investment Management Ltd. Sells 51,651 Shares of Bunge Global SA $BG

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Bunge Global SA (NYSE:BG) by 65.0%, holding 27,860 shares valued at approximately $2.13 million after selling 51,651 shares in the first quarter.
• Bunge Global reported $1.31 EPS for the last quarter, exceeding expectations, with earnings down 3.6% year-over-year, while quarterly revenue was $12.77 billion.
• The company announced a quarterly dividend of $0.70, equating to an annual yield of 3.4%, with a payout ratio of 27.97%.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 65.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,860 shares of the basic materials company's stock after selling 51,651 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Bunge Global were worth $2,129,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Kingsview Wealth Management LLC acquired a new stake in Bunge Global during the first quarter worth about $9,180,000. GAMMA Investing LLC grew its stake in Bunge Global by 152.1% during the first quarter. GAMMA Investing LLC now owns 3,275 shares of the basic materials company's stock worth $250,000 after buying an additional 1,976 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new stake in Bunge Global during the fourth quarter worth about $1,596,000. Nisa Investment Advisors LLC grew its stake in Bunge Global by 23.6% during the first quarter. Nisa Investment Advisors LLC now owns 5,341 shares of the basic materials company's stock worth $408,000 after buying an additional 1,021 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in Bunge Global during the first quarter worth about $898,000. 86.23% of the stock is owned by institutional investors.

Bunge Global Trading Down 0.1%

NYSE:BG traded down $0.0450 during mid-day trading on Tuesday, hitting $79.8250. 374,102 shares of the company's stock were exchanged, compared to its average volume of 1,822,983. The company has a 50 day simple moving average of $79.51 and a 200-day simple moving average of $76.93. 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 fifty-two week low of $67.40 and a fifty-two week high of $101.81. The firm has a market capitalization of $15.97 billion, a P/E ratio of 7.97, a PEG ratio of 5.05 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last released 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 net margin of 2.71% and a return on equity of 9.16%. The firm had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter last year, the business earned $1.73 EPS. The company's revenue was down 3.6% compared to the same quarter last year. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. As a group, research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 19th. This represents a yield of 342.0%. Bunge Global's dividend payout ratio (DPR) is presently 27.97%.

Analysts Set New Price Targets

BG has been the topic of a number of analyst reports. Morgan Stanley set a $83.00 price objective on shares of Bunge Global and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Stephens reduced their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.