Royal Bank of Canada Sells 110,289 Shares of Bunge Global SA (NYSE:BG)

Royal Bank of Canada cut its holdings in Bunge Global SA (NYSE:BG - Free Report) by 38.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 179,705 shares of the basic materials company's stock after selling 110,289 shares during the period. Royal Bank of Canada owned about 0.13% of Bunge Global worth $13,974,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Bunge Global by 3.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock valued at $351,000 after purchasing an additional 170 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in shares of Bunge Global by 25.4% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock worth $68,000 after purchasing an additional 178 shares in the last quarter. DoubleLine ETF Adviser LP raised its holdings in shares of Bunge Global by 2.4% in the 4th quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock worth $615,000 after purchasing an additional 183 shares in the last quarter. Allworth Financial LP grew its position in Bunge Global by 32.3% during the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 194 shares in the last quarter. Finally, Abbot Financial Management Inc. grew its position in Bunge Global by 0.9% during the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock valued at $1,786,000 after purchasing an additional 205 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BG shares. 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 report on Thursday, May 8th. Bank of America lowered their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Barclays lowered their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Morgan Stanley decreased their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup upped their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Bunge Global presently has a consensus rating of "Hold" and an average price target of $81.60.

Bunge Global Price Performance

Shares of BG stock traded down $0.19 during mid-day trading on Thursday, reaching $79.19. The company's stock had a trading volume of 1,266,988 shares, compared to its average volume of 1,630,030. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a market cap of $10.64 billion, a P/E ratio of 9.80, a PEG ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm's 50-day moving average is $77.52 and its two-hundred day moving average is $78.31.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The company had revenue of $11.64 billion during the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter in the prior year, the company posted $3.04 EPS. The business's revenue was down 13.2% on a year-over-year basis. On average, research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The company 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 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.