Summit Global Investments Trims Stake in Bunge Global SA (NYSE:BG)

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

Other large investors also recently modified their holdings of the company. Spire Wealth Management bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $26,000. Crews Bank & Trust bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $39,000. R Squared Ltd bought a new stake in Bunge Global during the fourth quarter worth $45,000. Menard Financial Group LLC bought a new stake in Bunge Global during the fourth quarter worth $47,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Bunge Global by 151.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the basic materials company's stock worth $47,000 after acquiring an additional 373 shares during the period. Institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America dropped their price target on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Stephens lowered their target price 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. Citigroup boosted their target price on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Morgan Stanley lowered their target price on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Finally, Barclays lowered their target price on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Performance

Shares of NYSE BG traded down $1.25 during mid-day trading on Wednesday, hitting $75.02. The company had a trading volume of 791,683 shares, compared to its average volume of 1,630,755. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 2.66 and a beta of 0.68. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. The stock's 50-day moving average price is $77.83 and its 200-day moving average price is $77.96.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.54. The company had revenue of $11.64 billion during the quarter, compared to analysts' expectations of $13.18 billion. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The firm's quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 earnings per share. 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 business also recently declared 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 3.73%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is presently 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.