Pacer Advisors Inc. Sells 2,943,493 Shares of Bunge Global SA (NYSE:BG)

Pacer Advisors Inc. lowered its position in Bunge Global SA (NYSE:BG) by 99.6% during the first quarter, Holdings Channel reports. The firm owned 12,966 shares of the basic materials company’s stock after selling 2,943,493 shares during the period. Pacer Advisors Inc.’s holdings in Bunge Global were worth $991,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BG. FMR LLC lifted its stake in Bunge Global by 25.3% in the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock valued at $269,488,000 after buying an additional 699,889 shares during the period. Geode Capital Management LLC increased its stake in shares of Bunge Global by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company’s stock valued at $268,205,000 after acquiring an additional 34,890 shares in the last quarter. Invesco Ltd. lifted its position in shares of Bunge Global by 28.6% during the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock valued at $249,349,000 after acquiring an additional 713,561 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Bunge Global by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company’s stock valued at $193,379,000 after acquiring an additional 183,701 shares during the period. Finally, Northern Trust Corp boosted its stake in Bunge Global by 5.0% during the fourth quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company’s stock worth $184,167,000 after acquiring an additional 112,333 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BG shares. 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 note on Tuesday, April 15th. Stephens decreased their target price 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Bunge Global currently has an average rating of “Hold” and a consensus price target of $81.60.

Bunge Global Stock Performance

NYSE BG opened at $80.23 on Thursday. The company has a fifty day simple moving average of $78.36 and a 200 day simple moving average of $76.71. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $107.44. The company has a current ratio of 2.04, a quick ratio of 1.12 and a debt-to-equity ratio of 0.41. The company has a market cap of $10.78 billion, a P/E ratio of 10.18, a PEG ratio of 3.79 and a beta of 0.67.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share 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 net margin of 2.13% and a return on equity of 9.98%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. Sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. 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 3.49%. Bunge Global’s dividend payout ratio (DPR) is currently 35.53%.

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.