Asset Management One Co. Ltd. Raises Holdings in Bunge Global SA (NYSE:BG)

Asset Management One Co. Ltd. increased its holdings in Bunge Global SA (NYSE:BG) by 8.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 81,427 shares of the basic materials company’s stock after acquiring an additional 6,179 shares during the period. Asset Management One Co. Ltd.’s holdings in Bunge Global were worth $6,223,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Uncommon Cents Investing LLC grew its position in Bunge Global by 0.9% in the first quarter. Uncommon Cents Investing LLC now owns 32,075 shares of the basic materials company’s stock worth $2,451,000 after acquiring an additional 295 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Bunge Global by 11.6% during the first quarter. Oppenheimer & Co. Inc. now owns 65,197 shares of the basic materials company’s stock worth $4,982,000 after purchasing an additional 6,768 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in Bunge Global during the first quarter worth $448,000. Cambridge Investment Research Advisors Inc. lifted its stake in Bunge Global by 4.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,926 shares of the basic materials company’s stock worth $1,370,000 after purchasing an additional 710 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Bunge Global during the first quarter worth $295,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on BG shares. Stephens decreased their price target on Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.60.

Bunge Global Stock Down 2.3%

NYSE:BG opened at $80.39 on Friday. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 3.99 and a beta of 0.68. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The stock’s fifty day moving average is $79.68 and its two-hundred day moving average is $77.06.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.98% and a net margin of 2.13%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the firm earned $3.04 earnings per share. Research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s payout ratio is currently 35.53%.

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.