OMERS ADMINISTRATION Corp Cuts Stock Position in Bunge Global SA (NYSE:BG)

OMERS ADMINISTRATION Corp lessened its holdings in Bunge Global SA (NYSE:BG - Free Report) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,645 shares of the basic materials company's stock after selling 6,596 shares during the period. OMERS ADMINISTRATION Corp's holdings in Bunge Global were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Bunge Global by 9.5% in the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock worth $18,815,000 after acquiring an additional 20,942 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Bunge Global by 7.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock valued at $302,000 after purchasing an additional 278 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Bunge Global by 39.6% in the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock worth $1,665,000 after purchasing an additional 6,077 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Bunge Global by 12.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company's stock valued at $2,935,000 after buying an additional 4,296 shares in the last quarter. Finally, Orca Wealth Management LLC purchased a new stake in shares of Bunge Global in the fourth quarter worth approximately $1,238,000. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BG. Barclays cut their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Citigroup increased their target price on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Stephens decreased their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Morgan Stanley cut their target price on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Finally, Bank of America reduced their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Bunge Global currently has an average rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Performance

NYSE:BG traded up $0.15 during trading hours on Tuesday, hitting $80.45. 1,832,440 shares of the company traded hands, compared to its average volume of 1,611,702. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The firm has a 50-day moving average of $76.87 and a 200 day moving average of $78.55.

Bunge Global (NYSE:BG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (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 analyst estimates of $13.18 billion. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The company's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.04 EPS. On average, analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Tuesday, February 17th. Bunge Global's payout ratio is 34.52%.

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.