New York Life Investment Management LLC Lowers Stake in Bunge Global SA (NYSE:BG)

New York Life Investment Management LLC decreased its position in Bunge Global SA (NYSE:BG) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,828 shares of the basic materials company’s stock after selling 20,102 shares during the quarter. New York Life Investment Management LLC’s holdings in Bunge Global were worth $2,103,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BG. Loomis Sayles & Co. L P boosted its stake in shares of Bunge Global by 169.8% in the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 146 shares during the period. NewSquare Capital LLC purchased a new position in Bunge Global in the 4th quarter valued at approximately $37,000. Rise Advisors LLC grew its stake in shares of Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 117 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in shares of Bunge Global during the third quarter worth $54,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Bunge Global during the fourth quarter worth $62,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on BG shares. Roth Mkm lowered their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Citigroup upped their target price on shares of Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their price target for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, Robert W. Baird decreased 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 report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Bunge Global Price Performance

Shares of NYSE:BG opened at $102.27 on Tuesday. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The firm has a market capitalization of $14.48 billion, a P/E 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 company’s fifty day moving average price is $100.57 and its 200 day moving average price is $99.87.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. The business had revenue of $13.42 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. As a group, sell-side analysts predict that Bunge Global SA will post 9.03 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 2nd. Stockholders of record on Monday, August 19th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.66%. Bunge Global’s payout ratio is 21.34%.

Bunge Global Profile

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.