Vanguard Group Inc. Sells 543,133 Shares of Bunge Global SA (NYSE:BG)

Vanguard Group Inc. decreased its position in Bunge Global SA (NYSE:BG - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,676,237 shares of the basic materials company's stock after selling 543,133 shares during the quarter. Vanguard Group Inc. owned approximately 12.45% of Bunge Global worth $1,274,398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its stake in shares of Bunge Global by 12.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock valued at $95,000 after buying an additional 135 shares during the period. Allworth Financial LP increased its stake in shares of Bunge Global by 18.4% during the first quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock valued at $76,000 after buying an additional 146 shares during the period. Moors & Cabot Inc. increased its stake in shares of Bunge Global by 2.1% during the first quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company's stock valued at $588,000 after buying an additional 158 shares during the period. DoubleLine ETF Adviser LP boosted its position in Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock valued at $615,000 after purchasing an additional 183 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in Bunge Global by 24.9% during the first quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 199 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BG. Citigroup lifted their target price on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Stephens cut their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley set a $83.00 target price on Bunge Global and gave the company an "equal weight" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $83.40.

Bunge Global Stock Up 0.8%

BG traded up $0.69 on Wednesday, reaching $83.21. The company's stock had a trading volume of 1,660,532 shares, compared to its average volume of 1,835,992. The business's 50 day moving average is $78.91 and its 200 day moving average is $76.82. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $101.81. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 5.08 and a beta of 0.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

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

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. 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 (DPR) is currently 27.97%.

Bunge Global 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.