Sentry Investment Management LLC Lowers Stock Position in Bunge Global SA (NYSE:BG)

Sentry Investment Management LLC trimmed its position in Bunge Global SA (NYSE:BG) by 23.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461 shares of the basic materials company’s stock after selling 138 shares during the period. Sentry Investment Management LLC’s holdings in Bunge Global were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BG. Spire Wealth Management purchased a new position in Bunge Global in the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new stake in shares of Bunge Global during the 1st quarter worth $42,000. Menard Financial Group LLC purchased a new stake in shares of Bunge Global during the 4th quarter worth $47,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Bunge Global by 151.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 373 shares in the last quarter. Finally, Financial Perspectives Inc boosted 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 worth $53,000 after purchasing an additional 585 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Up 1.0%

NYSE:BG opened at $74.58 on Friday. The company has a market capitalization of $10.02 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The stock has a fifty day simple moving average of $77.68 and a 200-day simple moving average of $77.72.

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

Bunge Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s dividend payout ratio is currently 35.53%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BG shares. Morgan Stanley decreased 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 report on Tuesday, February 11th. Citigroup boosted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Stephens decreased their target price on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America decreased 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 report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.60.

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.