Principal Financial Group Inc. Has $17.82 Million Holdings in Bunge Global SA (NYSE:BG)

Principal Financial Group Inc. lessened its holdings in Bunge Global SA (NYSE:BG - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,499 shares of the basic materials company's stock after selling 56,270 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Bunge Global worth $17,818,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P lifted its holdings in shares of Bunge Global by 169.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company's stock worth $25,000 after purchasing an additional 146 shares during the last quarter. NewSquare Capital LLC bought a new position in shares of Bunge Global during the fourth quarter worth about $37,000. Rise Advisors LLC increased its holdings in shares of Bunge Global by 40.6% in the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company's stock worth $41,000 after acquiring an additional 117 shares during the period. Ramirez Asset Management Inc. bought a new stake in Bunge Global in the 3rd quarter valued at about $54,000. Finally, GAMMA Investing LLC acquired a new position in Bunge Global during the 4th quarter valued at about $62,000. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Down 0.7 %

Shares of BG traded down $0.76 during midday trading on Thursday, reaching $102.37. 1,416,595 shares of the stock were exchanged, compared to its average volume of 1,654,020. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 8.24 and a beta of 0.65. The firm has a 50 day simple moving average of $103.44 and a 200-day simple moving average of $99.91. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same quarter in the prior year, the company posted $3.26 EPS. The firm's revenue was down 12.5% on a year-over-year basis. Research analysts forecast that Bunge Global SA will post 9.28 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.66%. Bunge Global's payout ratio is presently 21.90%.

Insider Buying and Selling

In related news, insider Christos Dimopoulos sold 20,000 shares of the business's stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares of the company's stock, valued at $9,086,776.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Roth Mkm reduced their price objective on shares of Bunge Global from $161.00 to $138.00 and set a "buy" rating for the company in a report on Monday, February 5th. The Goldman Sachs Group lowered their price objective on shares of Bunge Global from $141.00 to $126.00 and set a "buy" rating on the stock in a research note on Tuesday, February 13th. Citigroup upped their target price on Bunge Global from $117.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. HSBC upgraded Bunge Global from a "hold" rating to a "buy" rating and lowered their price target for the company from $122.00 to $105.00 in a research report on Friday, February 9th. Finally, BMO Capital Markets cut their price objective on Bunge Global from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $121.00.

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.