Bunge Global SA (NYSE:BG) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC reduced its stake in shares of Bunge Global SA (NYSE:BG) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,620 shares of the basic materials company’s stock after selling 1,256 shares during the period. Lazard Asset Management LLC’s holdings in Bunge Global were worth $2,147,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Spire Wealth Management purchased a new position in shares of Bunge Global during the 4th quarter worth about $26,000. Crews Bank & Trust purchased a new position in shares of Bunge Global during the 4th quarter worth about $39,000. R Squared Ltd purchased a new position in shares of Bunge Global during the 4th quarter worth about $45,000. Financial Perspectives Inc lifted its holdings in shares of Bunge Global by 585.0% during the 4th quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 585 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Bunge Global by 32.3% during the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 194 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Up 1.9%

NYSE BG opened at $81.52 on Friday. The company’s fifty day simple moving average is $76.73 and its 200-day simple moving average is $78.60. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.96 billion, a P/E ratio of 10.09, a PEG ratio of 2.66 and a beta of 0.68.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.54. The business had revenue of $11.64 billion for the quarter, compared to analysts’ expectations of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The business’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 posted $3.04 earnings per share. Equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s payout ratio is 34.52%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stephens reduced their price target on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Barclays reduced their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup lifted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.