Bunge Global SA (NYSE:BG) Shares Sold by Deutsche Bank AG

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.

Deutsche Bank AG cut its stake in Bunge Global SA (NYSE:BG - Free Report) by 21.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and 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 about 0.74% of Bunge Global worth $75,645,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Bunge Global by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company's stock worth $193,379,000 after acquiring an additional 183,701 shares during the period. Northern Trust Corp lifted its position in shares of Bunge Global by 5.0% during the fourth quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company's stock valued at $184,167,000 after buying an additional 112,333 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bunge Global by 6.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,603,669 shares of the basic materials company's stock valued at $122,552,000 after buying an additional 101,586 shares during the last quarter. Voloridge Investment Management LLC lifted its position 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 buying an additional 991,607 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Bunge Global during the first quarter valued at about $92,552,000. 86.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on BG shares. Morgan Stanley set a $83.00 price target on shares of Bunge Global and gave the company an "equal weight" rating in a research report on Tuesday. Stephens decreased their price target 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $83.40.

Bunge Global Stock Performance

Shares of Bunge Global stock traded down $0.22 during midday trading on Friday, hitting $81.88. The company had a trading volume of 239,649 shares, compared to its average volume of 1,826,581. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $101.81. The company has a fifty day simple moving average of $79.25 and a 200 day simple moving average of $76.88. 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 stock has a market cap of $11.00 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 5.14 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share 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 company had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter in the prior year, the company earned $1.73 EPS. Bunge Global's quarterly revenue 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders 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 dividend yield of 3.4%. Bunge Global's dividend payout ratio (DPR) is presently 27.97%.

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.