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Deutsche Bank AG Decreases Stock Holdings in Bunge Global SA (NYSE:BG)

Bunge Global logo with Basic Materials background

Key Points

  • Deutsche Bank AG reduced its stake in Bunge Global SA by 21.6%, holding approximately 989,857 shares worth $75.6 million as of the latest SEC filing.
  • Multiple hedge funds have increased their positions in Bunge, with AustralianSuper purchasing a new position valued at $92.55 million and Voloridge raising its holdings by 443.2%.
  • Bunge recently reported $1.31 earnings per share, surpassing analysts' expectations, although revenue decreased 3.6% year-over-year, with a forecast of 7.94 earnings per share for the current fiscal year.
  • Looking to export and analyze Bunge Global data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Deutsche Bank AG trimmed its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 21.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 989,857 shares of the basic materials company's stock after selling 272,122 shares during the period. Deutsche Bank AG owned approximately 0.74% of Bunge Global worth $75,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BG. AustralianSuper Pty Ltd purchased a new position in shares of Bunge Global during the first quarter valued at approximately $92,552,000. Voloridge Investment Management LLC raised its holdings in shares of Bunge Global by 443.2% during the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock valued at $94,503,000 after purchasing an additional 991,607 shares during the last quarter. Man Group plc purchased a new position in shares of Bunge Global during the fourth quarter valued at approximately $50,561,000. GAMMA Investing LLC raised its holdings in shares of Bunge Global by 19,166.8% during the first quarter. GAMMA Investing LLC now owns 250,276 shares of the basic materials company's stock valued at $19,126,000 after purchasing an additional 248,977 shares during the last quarter. Finally, Twinbeech Capital LP grew its position in Bunge Global by 196.9% during the fourth quarter. Twinbeech Capital LP now owns 339,881 shares of the basic materials company's stock valued at $26,429,000 after buying an additional 225,396 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BG shares. Citigroup boosted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Stephens cut their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Bunge Global has an average rating of "Hold" and an average price target of $81.60.

Check Out Our Latest Stock Analysis on BG

Bunge Global Stock Performance

BG opened at $83.04 on Monday. The firm has a market cap of $11.16 billion, a P/E ratio of 8.30, a PEG ratio of 5.12 and a beta of 0.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $101.81. The company has a 50 day simple moving average of $78.71 and a two-hundred day simple moving average of $76.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

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 for the quarter, topping analysts' consensus estimates of $1.19 by $0.12. The business 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 company's revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. Equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a yield of 3.4%. Bunge Global's dividend payout ratio is presently 27.97%.

About Bunge Global

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bunge Global SA (NYSE:BG - Free Report).

Institutional Ownership by Quarter for Bunge Global (NYSE:BG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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