Handelsinvest Investeringsforvaltning Decreases Stock Position in Bunge Global SA (NYSE:BG)

Handelsinvest Investeringsforvaltning reduced its position in Bunge Global SA (NYSE:BG) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,252 shares of the basic materials company’s stock after selling 1,620 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Bunge Global were worth $333,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in Bunge Global during the 4th quarter valued at $37,000. Rise Advisors LLC grew its position in shares of Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 117 shares during the period. Riverview Trust Co bought a new stake in shares of Bunge Global during the 1st quarter valued at $46,000. Ramirez Asset Management Inc. bought a new stake in shares of Bunge Global during the 3rd quarter valued at $54,000. Finally, GAMMA Investing LLC bought a new stake in shares of Bunge Global during the 4th quarter valued at $62,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Down 0.9 %

Shares of Bunge Global stock opened at $109.39 on Thursday. The company has a market capitalization of $15.49 billion, a P/E ratio of 8.81 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The company has a fifty day moving average of $104.70 and a 200 day moving average of $99.74. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $116.59.

Bunge Global (NYSE:BG) last issued its earnings results 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. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. Bunge Global’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 EPS. On average, sell-side analysts anticipate that Bunge Global SA will post 9.28 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s payout ratio is currently 21.90%.

Analyst Upgrades and Downgrades

Separately, 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Insiders Place Their Bets

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total value of $2,065,200.00. Following the sale, the insider now owns 87,999 shares in the company, valued at approximately $9,086,776.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Bunge Global Company 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.