Xponance Inc. Lowers Stock Holdings in Bunge Global SA (NYSE:BG)

Xponance Inc. trimmed its holdings in Bunge Global SA (NYSE:BG - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 62,458 shares of the basic materials company's stock after selling 7,491 shares during the period. Xponance Inc.'s holdings in Bunge Global were worth $4,773,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Bunge Global in the fourth quarter worth $148,857,000. Voloridge Investment Management LLC grew its stake in Bunge Global by 443.2% during the 4th quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock worth $94,503,000 after purchasing an additional 991,607 shares in the last quarter. Invesco Ltd. increased its holdings in Bunge Global by 28.6% during the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after purchasing an additional 713,561 shares during the period. FMR LLC raised its position in 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 purchasing an additional 699,889 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of Bunge Global in the 4th quarter valued at about $50,561,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

BG traded down $1.62 during trading on Monday, hitting $75.12. 1,652,236 shares of the stock were exchanged, compared to its average volume of 1,817,188. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The stock has a fifty day moving average price of $79.29 and a two-hundred day moving average price of $76.89. The firm has a market capitalization of $10.10 billion, a P/E ratio of 9.53, a PEG ratio of 3.81 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last released its 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. The company had revenue of $11.64 billion during the quarter, compared to analysts' expectations of $13.18 billion. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The business's revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the business earned $3.04 EPS. As a group, sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The company also recently disclosed 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. This represents a $2.80 annualized dividend and a yield of 3.73%. The ex-dividend date is Tuesday, February 17th. Bunge Global's payout ratio is currently 35.53%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stephens dropped their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $81.60.

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.