ProShare Advisors LLC Boosts Holdings in Bunge Global SA (NYSE:BG)

ProShare Advisors LLC raised its holdings in shares of Bunge Global SA (NYSE:BG) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,769 shares of the basic materials company’s stock after acquiring an additional 2,196 shares during the quarter. ProShare Advisors LLC’s holdings in Bunge Global were worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BG. NewSquare Capital LLC purchased a new position in Bunge Global during the 4th quarter valued at about $37,000. Riverview Trust Co purchased a new position in Bunge Global during the 1st quarter valued at about $46,000. GAMMA Investing LLC purchased a new position in Bunge Global during the 4th quarter valued at about $62,000. Rise Advisors LLC increased its holdings in Bunge Global by 56.8% during the 1st quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 230 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Bunge Global during the 1st quarter valued at about $76,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bunge Global

In other news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction on 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 owns 87,999 shares of the company’s stock, valued at approximately $9,086,776.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Bunge Global Stock Performance

NYSE:BG opened at $112.22 on Friday. The company has a market cap of $15.89 billion, a P/E ratio of 9.04 and a beta of 0.67. The firm’s 50 day moving average is $106.38 and its two-hundred day moving average is $100.40. 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 quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. The firm had revenue of $13.42 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.26 earnings per share. Analysts expect that Bunge Global SA will post 9.2 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders 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 2.42%. Bunge Global’s dividend payout ratio (DPR) is 21.90%.

Analyst Ratings Changes

Separately, Citigroup raised their price target 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

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.