Gotham Asset Management LLC Reduces Holdings in Bunge Global SA (NYSE:BG)

Gotham Asset Management LLC decreased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 52.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,897 shares of the basic materials company's stock after selling 20,965 shares during the period. Gotham Asset Management LLC's holdings in Bunge Global were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in Bunge Global by 17.2% during the 3rd quarter. Barclays PLC now owns 454,722 shares of the basic materials company's stock worth $43,945,000 after buying an additional 66,681 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Bunge Global by 2.7% during the third quarter. Principal Financial Group Inc. now owns 177,218 shares of the basic materials company's stock valued at $17,126,000 after acquiring an additional 4,733 shares in the last quarter. Czech National Bank raised its position in shares of Bunge Global by 4.9% in the 4th quarter. Czech National Bank now owns 30,274 shares of the basic materials company's stock valued at $2,354,000 after purchasing an additional 1,419 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Bunge Global by 12.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company's stock worth $2,935,000 after purchasing an additional 4,296 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Bunge Global by 7.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock worth $302,000 after purchasing an additional 278 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

Shares of NYSE:BG traded up $0.15 during midday trading on Tuesday, hitting $80.45. The company's stock had a trading volume of 1,832,440 shares, compared to its average volume of 1,611,702. The company has a market cap of $10.81 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The business's 50 day simple moving average is $76.87 and its 200 day simple moving average is $78.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.54. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The business had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same period in the previous year, the firm posted $3.04 EPS. The business's revenue for the quarter was down 13.2% compared to the same quarter last year. On average, analysts forecast that Bunge Global SA will post 7.94 EPS 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 issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.48%. Bunge Global's dividend payout ratio is presently 34.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BG. Citigroup boosted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Barclays reduced their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stephens dropped their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley reduced their price target on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Finally, Bank of America decreased their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. 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, the company currently has a consensus rating of "Hold" and a consensus target price of $81.60.

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.