Swiss National Bank Has $47.56 Million Position in Bunge Global SA (NYSE:BG)

Swiss National Bank trimmed its stake in shares of Bunge Global SA (NYSE:BG) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,100 shares of the basic materials company’s stock after selling 13,400 shares during the quarter. Swiss National Bank’s holdings in Bunge Global were worth $47,558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BG. Victory Capital Management Inc. boosted its stake in shares of Bunge Global by 11.9% during the fourth quarter. Victory Capital Management Inc. now owns 106,863 shares of the basic materials company’s stock valued at $10,788,000 after purchasing an additional 11,355 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Bunge Global by 680.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,340 shares of the basic materials company’s stock valued at $218,000 after buying an additional 2,040 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Bunge Global by 20.9% during the 4th quarter. Russell Investments Group Ltd. now owns 62,394 shares of the basic materials company’s stock worth $6,304,000 after buying an additional 10,797 shares during the period. Truist Financial Corp grew its holdings in Bunge Global by 146.4% during the 4th quarter. Truist Financial Corp now owns 63,366 shares of the basic materials company’s stock worth $6,397,000 after acquiring an additional 37,645 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new position in Bunge Global in the 4th quarter valued at approximately $873,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 1.1 %

Shares of BG stock opened at $102.27 on Tuesday. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The stock has a 50 day simple moving average of $100.57 and a two-hundred day simple moving average of $99.87. The company has a market cap of $14.48 billion, a P/E ratio of 8.23 and a beta of 0.65.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.49. The company had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. Bunge Global’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.26 EPS. Research analysts forecast that Bunge Global SA will post 9.03 earnings per share for the current year.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Stockholders of record on Monday, August 19th will be given a dividend of $0.68 per share. The ex-dividend date is Monday, August 19th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.66%. Bunge Global’s dividend payout ratio (DPR) is presently 21.34%.

Analyst Ratings Changes

A number of brokerages have recently commented on BG. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the stock from $122.00 to $105.00 in a report on Friday, February 9th. The Goldman Sachs Group cut their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Wolfe Research cut Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. BMO Capital Markets cut their price objective on Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, Citigroup increased their target price on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.