Summit Global Investments Has $204,000 Holdings in Bunge Global SA (NYSE:BG)

Summit Global Investments cut its stake in Bunge Global SA (NYSE:BG - Free Report) by 95.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,666 shares of the basic materials company's stock after selling 58,420 shares during the period. Summit Global Investments' holdings in Bunge Global were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BG. American Century Companies Inc. lifted its stake in Bunge Global by 9.5% during the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock valued at $18,815,000 after purchasing an additional 20,942 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Bunge Global by 39.6% during the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock valued at $1,665,000 after purchasing an additional 6,077 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Bunge Global during the fourth quarter valued at approximately $2,253,000. Colrain Capital LLC purchased a new stake in shares of Bunge Global in the 4th quarter valued at approximately $2,799,000. Finally, Allworth Financial LP lifted its position in shares of Bunge Global by 32.3% in the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 194 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Stock Down 1.0%

Shares of BG traded down $0.77 during mid-day trading on Thursday, hitting $73.82. 1,540,217 shares of the company's stock were exchanged, compared to its average volume of 1,633,903. The firm has a fifty day moving average of $77.74 and a two-hundred day moving average of $77.82. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $13.18 billion. During the same quarter in the prior year, the business posted $3.04 EPS. Bunge Global's quarterly revenue was down 13.2% on a year-over-year basis. On average, sell-side analysts forecast 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 paid a $0.70 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a yield of 3.79%. Bunge Global's payout ratio is presently 35.53%.

Analysts Set New Price Targets

Several brokerages recently commented on BG. Morgan Stanley reduced their price target 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. Stephens reduced 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. Barclays cut their target price on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Bank of America cut their target price on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup increased their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research 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. According to MarketBeat, Bunge Global presently has a consensus rating of "Hold" and an average target price of $81.60.

Bunge Global Company 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.