FIL Ltd Sells 116,973 Shares of Bunge Global SA (NYSE:BG)

FIL Ltd trimmed its position in Bunge Global SA (NYSE:BG) by 3.9% in the 4th quarter, HoldingsChannel reports. The fund owned 2,878,951 shares of the basic materials company’s stock after selling 116,973 shares during the quarter. FIL Ltd’s holdings in Bunge Global were worth $290,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BG. C M Bidwell & Associates Ltd. grew its holdings in Bunge Global by 36.2% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 3,260 shares of the basic materials company’s stock valued at $329,000 after buying an additional 867 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Bunge Global by 9.5% during the 4th quarter. Cohen & Steers Inc. now owns 73,727 shares of the basic materials company’s stock valued at $7,443,000 after acquiring an additional 6,418 shares during the last quarter. Humankind Investments LLC boosted its position in shares of Bunge Global by 4.3% during the 4th quarter. Humankind Investments LLC now owns 18,681 shares of the basic materials company’s stock valued at $1,886,000 after acquiring an additional 774 shares during the last quarter. American Trust Investment Advisors LLC boosted its position in shares of Bunge Global by 27.8% during the 4th quarter. American Trust Investment Advisors LLC now owns 54,835 shares of the basic materials company’s stock valued at $5,536,000 after acquiring an additional 11,935 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Bunge Global during the 4th quarter valued at approximately $2,433,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BG. Citigroup increased their target price on Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. StockNews.com downgraded Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and an average target price of $121.00.

Bunge Global Stock Down 0.3 %

NYSE:BG opened at $102.83 on Friday. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $116.59. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 8.28 and a beta of 0.67. The stock has a fifty day simple moving average of $104.87 and a 200-day simple moving average of $99.82. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share 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 business had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period last year, the company earned $3.26 earnings per share. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. Analysts anticipate that Bunge Global SA will post 9.28 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 annualized dividend and a dividend yield of 2.65%. Bunge Global’s dividend payout ratio (DPR) is 21.90%.

Insider Activity

In other news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was 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 in the company, valued at $9,086,776.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

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.