Bunge Global SA (NYSE:BG) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association has reduced its holdings in Bunge Global SA by 21.2%, now owning 13,531 shares valued at $1,034,000.
• Multiple hedge funds have increased their positions in Bunge, with Cullen Frost Bankers Inc. leading with a 24.9% increase in the first quarter.
• Bunge Global recently reported an EPS of $1.31 for the quarter, surpassing analyst estimates, but year-over-year revenue decreased by 3.6%.

TIAA Trust National Association decreased its holdings in Bunge Global SA (NYSE:BG - Free Report) by 21.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,531 shares of the basic materials company's stock after selling 3,631 shares during the period. TIAA Trust National Association's holdings in Bunge Global were worth $1,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BG. SBI Securities Co. Ltd. increased its position in Bunge Global by 12.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock worth $95,000 after purchasing an additional 135 shares during the period. Allworth Financial LP increased its position in Bunge Global by 18.4% in the first quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock worth $76,000 after purchasing an additional 146 shares during the period. Moors & Cabot Inc. increased its position in Bunge Global by 2.1% in the first quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company's stock worth $588,000 after purchasing an additional 158 shares during the period. DoubleLine ETF Adviser LP increased its position in Bunge Global by 2.4% in the fourth 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 during the period. Finally, Cullen Frost Bankers Inc. increased its position in Bunge Global by 24.9% in the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock worth $76,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Ratings Changes

BG has been the subject of several research analyst reports. Citigroup boosted their price objective on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Stephens decreased their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. 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, the company presently has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Price Performance

Bunge Global stock traded up $1.93 during midday trading on Tuesday, reaching $82.53. 2,617,878 shares of the stock traded hands, compared to its average volume of 1,918,686. The stock has a market cap of $11.09 billion, a P/E ratio of 8.24, a PEG ratio of 4.98 and a beta of 0.67. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $101.81. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average is $78.51 and its 200-day moving average is $76.68.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly 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. The business had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. As a group, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.4%. Bunge Global's dividend payout ratio is 27.97%.

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.