CIBC Asset Management Inc Sells 1,456 Shares of Bunge Global SA (NYSE:BG)

CIBC Asset Management Inc cut its stake in shares of Bunge Global SA (NYSE:BGFree Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,210 shares of the basic materials company’s stock after selling 1,456 shares during the quarter. CIBC Asset Management Inc’s holdings in Bunge Global were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. NEOS Investment Management LLC bought a new stake in Bunge Global in the fourth quarter valued at approximately $208,000. KBC Group NV raised its holdings in Bunge Global by 65.5% during the 4th quarter. KBC Group NV now owns 87,452 shares of the basic materials company’s stock valued at $8,828,000 after buying an additional 34,610 shares during the last quarter. Alaethes Wealth LLC boosted its position in Bunge Global by 6.0% during the 4th quarter. Alaethes Wealth LLC now owns 10,350 shares of the basic materials company’s stock valued at $1,045,000 after buying an additional 585 shares during the period. Treasurer of the State of North Carolina grew its holdings in Bunge Global by 1.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 68,323 shares of the basic materials company’s stock worth $6,897,000 after acquiring an additional 832 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Bunge Global by 27.0% in the fourth quarter. Stifel Financial Corp now owns 85,071 shares of the basic materials company’s stock valued at $8,588,000 after acquiring an additional 18,076 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BG. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their price objective for the company from $122.00 to $105.00 in a research report on Friday, February 9th. The Goldman Sachs Group decreased their price objective on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Citigroup boosted their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

View Our Latest Stock Analysis on Bunge Global

Insider Buying and Selling

In related news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the sale, the insider now owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Bunge Global Trading Down 0.9 %

NYSE:BG opened at $104.16 on Friday. Bunge Global SA has a one year low of $86.10 and a one year high of $116.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.10. The company’s 50-day simple moving average is $104.74 and its 200 day simple moving average is $99.95. The firm has a market capitalization of $14.75 billion, a P/E ratio of 8.39 and a beta of 0.67.

Bunge Global (NYSE:BGGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same quarter in the previous year, the firm posted $3.26 earnings per share. Bunge Global’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, analysts forecast that Bunge Global SA will post 9.28 EPS for the current fiscal year.

Bunge Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s payout ratio is currently 21.90%.

Bunge Global Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bunge Global (NYSE:BG)

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