Foster & Motley Inc. Has $2.30 Million Stock Holdings in Bunge Global SA (NYSE:BG)

Key Points

• Foster & Motley Inc. has reduced its investment in Bunge Global SA by 13.1%, now holding 30,058 shares valued at approximately $2.3 million.
• Bunge Global reported earnings of $1.31 per share for the quarter, exceeding analyst expectations of $1.19, despite a year-over-year revenue decline of 3.6%.
• The company plans to distribute a quarterly dividend of $0.70 on March 3rd, representing an annualized dividend of $2.80 with a yield of 3.49%.

Foster & Motley Inc. cut its position in Bunge Global SA (NYSE:BG - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,058 shares of the basic materials company's stock after selling 4,548 shares during the quarter. Foster & Motley Inc.'s holdings in Bunge Global were worth $2,297,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BG. Pictet Asset Management Holding SA raised its position in shares of Bunge Global by 9.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 82,467 shares of the basic materials company's stock worth $6,413,000 after buying an additional 6,846 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Bunge Global by 8.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,221 shares of the basic materials company's stock worth $561,000 after buying an additional 538 shares in the last quarter. DnB Asset Management AS raised its position in shares of Bunge Global by 15.0% during the 4th quarter. DnB Asset Management AS now owns 34,081 shares of the basic materials company's stock worth $2,650,000 after buying an additional 4,451 shares in the last quarter. Allstate Corp bought a new stake in shares of Bunge Global during the 4th quarter worth about $324,000. Finally, Wellington Management Group LLP raised its position in shares of Bunge Global by 30.2% during the 4th quarter. Wellington Management Group LLP now owns 240,595 shares of the basic materials company's stock worth $18,709,000 after buying an additional 55,861 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BG. Stephens lowered their price objective 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. Citigroup lifted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $81.60.

Bunge Global Trading Down 2.2%

Shares of Bunge Global stock traded down $1.76 during trading on Friday, hitting $78.00. The stock had a trading volume of 1,878,573 shares, compared to its average volume of 1,833,320. The stock has a 50 day simple moving average of $78.40 and a 200 day simple moving average of $76.68. The company has a market capitalization of $10.48 billion, a PE ratio of 7.79, a P/E/G ratio of 3.94 and a beta of 0.67. The company has a quick ratio of 1.12, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $102.57.

Bunge Global (NYSE:BG - Get Free Report) last released its 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. The business had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. 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 announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) 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.