Laird Norton Wetherby Wealth Management LLC Decreases Holdings in Bunge Global SA (NYSE:BG)

Laird Norton Wetherby Wealth Management LLC trimmed its holdings in shares of Bunge Global SA (NYSE:BG) by 36.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,712 shares of the basic materials company’s stock after selling 3,332 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Bunge Global were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC grew its holdings in Bunge Global by 25.3% during the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock valued at $269,488,000 after purchasing an additional 699,889 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 worth $268,205,000 after acquiring an additional 34,890 shares in the last quarter. Invesco Ltd. grew its stake in Bunge Global by 28.6% in the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after acquiring an additional 713,561 shares in the last quarter. Pacer Advisors Inc. grew its stake in Bunge Global by 13,459.9% in the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after acquiring an additional 2,934,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Bunge Global by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company’s stock worth $193,379,000 after acquiring an additional 183,701 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BG. Bank of America dropped their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Stephens dropped their target price on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Citigroup increased their price objective 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. Finally, Barclays dropped their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.60.

Bunge Global Price Performance

NYSE BG opened at $80.07 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm’s 50 day moving average price is $76.59 and its 200-day moving average price is $78.69. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The company has a market cap of $10.76 billion, a PE ratio of 9.91, a P/E/G ratio of 2.66 and a beta of 0.68.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.54. The company had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Bunge Global’s revenue was down 13.2% compared to the same quarter last year. During the same period last year, the firm earned $3.04 earnings per share. Sell-side analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.50%. This is an increase from Bunge Global’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, May 19th. Bunge Global’s dividend payout ratio (DPR) is 34.52%.

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.