Avidian Wealth Solutions LLC Trims Stake in Bunge Global SA (NYSE:BG)

Avidian Wealth Solutions LLC lessened its holdings in Bunge Global SA (NYSE:BG) by 4.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,697 shares of the basic materials company’s stock after selling 123 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Bunge Global were worth $272,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Bunge Global by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company’s stock worth $1,989,285,000 after buying an additional 60,660 shares during the last quarter. Northern Trust Corp raised its position in Bunge Global by 2.8% during the third quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock valued at $299,103,000 after purchasing an additional 75,936 shares in the last quarter. LSV Asset Management lifted its stake in Bunge Global by 86.8% during the fourth quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock worth $144,435,000 after purchasing an additional 664,632 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bunge Global by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,345,776 shares of the basic materials company’s stock worth $145,680,000 after purchasing an additional 14,620 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Bunge Global by 55.8% in the 3rd quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock worth $66,402,000 after purchasing an additional 219,819 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Up 1.1 %

NYSE BG opened at $102.27 on Tuesday. Bunge Global SA has a 1 year low of $86.10 and a 1 year high of $116.59. The stock has a market capitalization of $14.48 billion, a PE ratio of 8.23 and a beta of 0.65. 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 business’s 50-day moving average is $100.57 and its 200 day moving average is $99.87.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter last year, the business posted $3.26 EPS. The business’s revenue was down 12.5% on a year-over-year basis. Sell-side analysts forecast that Bunge Global SA will post 9.03 earnings per share for the current year.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Shareholders of record on Monday, August 19th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Monday, August 19th. Bunge Global’s payout ratio is currently 21.34%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BG. Barclays dropped their target price on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, January 23rd. Robert W. Baird cut their price objective on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Roth Mkm decreased their target price on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Citigroup upped their price target 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. Finally, Wolfe Research downgraded Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus target price of $121.00.

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.