Envestnet Asset Management Inc. Cuts Stock Position in Bunge Global SA (NYSE:BG)

Envestnet Asset Management Inc. lessened its holdings in Bunge Global SA (NYSE:BG - Free Report) by 36.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,297 shares of the basic materials company's stock after selling 56,323 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Bunge Global worth $7,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BG. UMB Bank n.a. grew its holdings 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 in the last quarter. Riverview Trust Co boosted 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 buying an additional 255 shares in the last quarter. Spire Wealth Management boosted its stake in Bunge Global by 66.5% in the first quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after buying an additional 222 shares in the last quarter. NBC Securities Inc. acquired a new stake in Bunge Global in the first quarter valued at about $42,000. Finally, Menard Financial Group LLC acquired a new stake in Bunge Global in the fourth quarter valued at about $47,000. Institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BG shares. Citigroup raised their price objective on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Stephens cut their price target on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $81.60.

Bunge Global Trading Up 0.4%

Shares of BG traded up $0.34 during mid-day trading on Friday, reaching $77.27. 1,073,683 shares of the company were exchanged, compared to its average volume of 1,856,902. The stock has a market capitalization of $10.38 billion, a PE ratio of 9.81, a PEG ratio of 3.83 and a beta of 0.67. The business has a 50 day simple moving average of $78.48 and a two-hundred day simple moving average of $76.73. 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 52 week low of $67.40 and a 52 week high of $114.92.

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

Bunge Global Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.62%. Bunge Global's payout ratio is 35.53%.

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.