Western Wealth Management LLC Cuts Stock Position in Bunge Global SA (NYSE:BG)

Western Wealth Management LLC lowered its stake in shares of Bunge Global SA (NYSE:BG) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,526 shares of the basic materials company’s stock after selling 153 shares during the period. Western Wealth Management LLC’s holdings in Bunge Global were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BG. PharVision Advisers LLC acquired a new stake in shares of Bunge Global in the fourth quarter worth approximately $255,000. USS Investment Management Ltd lifted its holdings in Bunge Global by 30.6% in the fourth quarter. USS Investment Management Ltd now owns 20,500 shares of the basic materials company’s stock valued at $1,594,000 after acquiring an additional 4,800 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Bunge Global by 443.2% during the 4th quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company’s stock worth $94,503,000 after purchasing an additional 991,607 shares during the period. Woodline Partners LP purchased a new stake in shares of Bunge Global in the 4th quarter valued at approximately $652,000. Finally, Twinbeech Capital LP grew its stake in shares of Bunge Global by 196.9% in the fourth quarter. Twinbeech Capital LP now owns 339,881 shares of the basic materials company’s stock valued at $26,429,000 after buying an additional 225,396 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Up 0.6%

Shares of NYSE BG opened at $78.23 on Friday. The stock has a market cap of $10.51 billion, a PE ratio of 9.68, a price-to-earnings-growth 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 SA has a 52-week low of $67.40 and a 52-week high of $114.92. The business has a 50-day moving average price of $77.23 and a 200 day moving average price of $78.47.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. The company had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $13.18 billion. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 earnings per share. Equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on BG. 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. Morgan Stanley lowered their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Citigroup raised their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Barclays lowered their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Stephens cut their price target on Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $81.60.

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.