Bunge Global SA (NYSE:BG) Stake Cut by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in Bunge Global SA (NYSE:BG) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,798 shares of the basic materials company’s stock after selling 551 shares during the period. Federated Hermes Inc.’s holdings in Bunge Global were worth $2,889,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. increased its position in Bunge Global by 163.1% in the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 261 shares during the last quarter. Riverview Trust Co increased its position in Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 255 shares during the last quarter. NBC Securities Inc. acquired a new position in Bunge Global in the 1st quarter worth about $42,000. Spire Wealth Management increased its position in Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 222 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new position in Bunge Global in the 4th quarter worth about $47,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on BG. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Stephens lowered their price objective on Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $81.60.

Bunge Global Stock Performance

Shares of NYSE BG opened at $80.62 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 3.86 and a beta of 0.67. The business’s 50-day simple moving average is $78.45 and its 200-day simple moving average is $76.64. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $101.81.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.12. The firm had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. As a group, equities research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

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 $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. Bunge Global’s dividend payout ratio (DPR) is 27.97%.

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.