Lazard Asset Management LLC Cuts Holdings in Bunge Global SA (NYSE:BG)

Lazard Asset Management LLC decreased its position in Bunge Global SA (NYSE:BG) by 49.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,358 shares of the basic materials company’s stock after selling 55,208 shares during the period. Lazard Asset Management LLC’s holdings in Bunge Global were worth $5,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BG. NewSquare Capital LLC purchased a new stake in shares of Bunge Global during the fourth quarter worth about $37,000. Riverview Trust Co purchased a new stake in shares of Bunge Global during the first quarter worth about $46,000. GAMMA Investing LLC purchased a new stake in shares of Bunge Global during the fourth quarter worth about $62,000. Rise Advisors LLC increased its stake in shares of 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 in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Bunge Global during the first quarter worth about $76,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

BG opened at $113.84 on Monday. The firm has a market capitalization of $16.12 billion, a PE ratio of 9.20 and a beta of 0.67. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $116.59. The firm’s 50-day moving average price is $107.36 and its 200 day moving average price is $101.00. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. Bunge Global’s payout ratio is presently 21.90%.

Wall Street Analyst Weigh In

Separately, Citigroup boosted 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Insider Buying and Selling

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

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.