Bunge Global SA (NYSE:BG) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in Bunge Global SA (NYSE:BG) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 471,100 shares of the basic materials company’s stock after selling 13,400 shares during the period. Swiss National Bank owned about 0.32% of Bunge Global worth $47,558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BG. Vanguard Group Inc. increased its stake in Bunge Global by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company’s stock valued at $1,989,285,000 after purchasing an additional 60,660 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Bunge Global by 2.8% during the third quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock valued at $299,103,000 after purchasing an additional 75,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bunge Global by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,345,776 shares of the basic materials company’s stock worth $145,680,000 after purchasing an additional 14,620 shares during the period. Royal Bank of Canada lifted its holdings in shares of Bunge Global by 55.8% in the 3rd quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock worth $66,402,000 after purchasing an additional 219,819 shares during the last quarter. Finally, abrdn plc boosted its position in Bunge Global by 12.8% during the 4th quarter. abrdn plc now owns 572,162 shares of the basic materials company’s stock valued at $57,760,000 after purchasing an additional 64,887 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup raised their target price on Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Roth Mkm cut their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, BMO Capital Markets decreased 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Stock Performance

Shares of BG opened at $102.27 on Tuesday. The company’s fifty day moving average is $100.57 and its 200-day moving average is $99.87. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 8.23 and a beta of 0.65. 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) last issued its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the firm earned $3.26 EPS. The business’s revenue was down 12.5% on a year-over-year basis. Equities analysts expect that Bunge Global SA will post 9.03 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Stockholders of record on Monday, August 19th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, August 19th. Bunge Global’s dividend payout ratio is 21.34%.

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.