Bunge Global SA (NYSE:BG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in Bunge Global SA (NYSE:BG) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,401 shares of the basic materials company’s stock after selling 5,156 shares during the period. Tidal Investments LLC’s holdings in Bunge Global were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BG. Spire Wealth Management purchased a new stake in shares of Bunge Global in the fourth quarter valued at approximately $26,000. Crews Bank & Trust purchased a new stake in shares of Bunge Global in the fourth quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in shares of Bunge Global in the fourth quarter valued at approximately $45,000. Financial Perspectives Inc grew its position in shares of Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 585 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 194 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Up 0.6%

BG opened at $78.23 on Friday. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The business has a fifty day simple moving average of $77.23 and a 200-day simple moving average of $78.47. The firm has a market cap of $10.51 billion, a P/E ratio of 9.68, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.27 by $0.54. The business 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 quarterly revenue was down 13.2% on a year-over-year basis. During the same period last year, the business posted $3.04 earnings per share. On average, equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s payout ratio is currently 35.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BG. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Morgan Stanley lowered their price objective on 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. Barclays lowered their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Bank of America lowered their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Stephens lowered their price objective on Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $81.60.

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.