Victory Capital Management Inc. Lowers Stake in Bunge Global SA (NYSE:BG)

Victory Capital Management Inc. cut its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 52.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,265 shares of the basic materials company's stock after selling 121,906 shares during the period. Victory Capital Management Inc. owned 0.08% of Bunge Global worth $8,503,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BG. Norges Bank acquired a new position in shares of Bunge Global during the fourth quarter valued at about $148,857,000. Voloridge Investment Management LLC grew its holdings in shares of Bunge Global by 443.2% during the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock valued at $94,503,000 after buying an additional 991,607 shares during the last quarter. Invesco Ltd. increased its position in shares of Bunge Global by 28.6% in the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after acquiring an additional 713,561 shares during the period. FMR LLC increased its position in shares of Bunge Global by 25.3% in the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock valued at $269,488,000 after acquiring an additional 699,889 shares during the period. Finally, Man Group plc purchased a new position in Bunge Global in the 4th quarter worth $50,561,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

NYSE BG traded up $0.34 on Friday, reaching $77.27. 1,073,683 shares of the company's stock traded hands, compared to its average volume of 1,856,902. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 3.82 and a beta of 0.67. The stock has a 50 day moving average price of $78.48 and a 200-day moving average price of $76.73.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. The business had revenue of $11.64 billion during the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The company's revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the business posted $3.04 EPS. Equities research analysts predict 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. Shareholders of record on Tuesday, February 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.62%. Bunge Global's dividend payout ratio is presently 35.53%.

Analysts Set New Price Targets

BG has been the topic of several research analyst reports. Stephens dropped their price target 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 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Bunge Global presently has a consensus rating of "Hold" and a consensus price target 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.