Pacer Advisors Inc. Sells 2,943,493 Shares of Bunge Global SA (NYSE:BG)

Pacer Advisors Inc. trimmed its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 99.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,966 shares of the basic materials company's stock after selling 2,943,493 shares during the quarter. Pacer Advisors Inc.'s holdings in Bunge Global were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kingsview Wealth Management LLC purchased a new position in shares of Bunge Global in the first quarter worth approximately $9,180,000. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 1,976 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in shares of Bunge Global during the fourth quarter worth approximately $1,596,000. DnB Asset Management AS boosted its holdings in shares of Bunge Global by 15.0% during the fourth quarter. DnB Asset Management AS now owns 34,081 shares of the basic materials company's stock worth $2,650,000 after purchasing an additional 4,451 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of 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 purchasing an additional 1,021 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BG shares. Stephens reduced 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 note on Thursday, May 8th. Citigroup lifted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Performance

Shares of Bunge Global stock traded down $1.76 on Friday, reaching $78.00. The stock had a trading volume of 1,878,573 shares, compared to its average volume of 1,833,320. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $102.57. The business's 50-day moving average price is $78.40 and its two-hundred day moving average price is $76.70. The stock has a market cap of $10.48 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 3.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.12 and a current ratio of 2.07.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The business had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Bunge Global's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's payout ratio is 35.53%.

About Bunge Global

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.