Wahed Invest LLC Trims Position in Bunge Global SA (NYSE:BG)

Wahed Invest LLC decreased its position in shares of Bunge Global SA (NYSE:BG) by 44.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,792 shares of the basic materials company’s stock after selling 2,254 shares during the quarter. Wahed Invest LLC’s holdings in Bunge Global were worth $286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC purchased a new position in Bunge Global during the fourth quarter worth approximately $37,000. Riverview Trust Co purchased a new position in Bunge Global during the first quarter worth approximately $46,000. GAMMA Investing LLC purchased a new position in Bunge Global during the fourth quarter worth approximately $62,000. Rise Advisors LLC raised its stake in Bunge Global by 56.8% during the first quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 230 shares during the period. Finally, Mather Group LLC. purchased a new position in Bunge Global during the first quarter worth approximately $76,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Down 4.5 %

Shares of Bunge Global stock traded down $4.59 during trading hours on Friday, hitting $98.48. The company’s stock had a trading volume of 1,931,783 shares, compared to its average volume of 1,549,450. Bunge Global SA has a 1-year low of $86.10 and a 1-year high of $116.59. The business has a fifty day moving average of $107.87 and a 200 day moving average of $101.31. The company has a market capitalization of $13.94 billion, a PE ratio of 8.30 and a beta of 0.67. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.67%. Bunge Global’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.72 earnings per share. As a group, equities analysts forecast that Bunge Global SA will post 9.25 EPS for the current year.

Bunge Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s payout ratio is 21.90%.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 87,999 shares in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $114.00 in a research note on Thursday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.11.

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.