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

Laird Norton Wetherby Wealth Management LLC reduced its position in Bunge Global SA (NYSE:BG) by 36.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,712 shares of the basic materials company’s stock after selling 3,332 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Bunge Global were worth $444,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management bought a new stake in Bunge Global in the 4th quarter worth approximately $26,000. Crews Bank & Trust bought a new stake in shares of Bunge Global during the 4th quarter valued at $39,000. R Squared Ltd bought a new stake in shares of Bunge Global during the 4th quarter valued at $45,000. Financial Perspectives Inc grew its position in shares of Bunge Global by 585.0% during the 4th quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 585 shares during the period. Finally, Allworth Financial LP grew its position in shares of Bunge Global by 32.3% during the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 194 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of recent research reports. Stephens cut their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Barclays cut their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Morgan Stanley lowered 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. Citigroup lifted their target price 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, Bank of America lowered 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.60.

Bunge Global Stock Down 2.3%

BG opened at $80.07 on Friday. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. 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 fifty day moving average is $76.59 and its 200 day moving average is $78.69.

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

Bunge Global Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.80 annualized dividend and a yield of 3.50%. This is a boost from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s payout ratio is presently 34.52%.

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.