Jacobi Capital Management LLC Purchases Shares of 2,350 Bunge Global SA (NYSE:BG)

Jacobi Capital Management LLC purchased a new stake in Bunge Global SA (NYSE:BG) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,350 shares of the basic materials company’s stock, valued at approximately $241,000.

A number of other hedge funds also recently bought and sold shares of the stock. Edgestream Partners L.P. raised its position in shares of Bunge Global by 7.5% during the 1st quarter. Edgestream Partners L.P. now owns 25,111 shares of the basic materials company’s stock worth $2,574,000 after acquiring an additional 1,759 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Bunge Global by 4.0% during the 1st quarter. Acadian Asset Management LLC now owns 702,095 shares of the basic materials company’s stock worth $71,965,000 after acquiring an additional 27,235 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Bunge Global during the 1st quarter worth about $86,000. Searle & CO. raised its position in shares of Bunge Global by 96.0% during the 1st quarter. Searle & CO. now owns 17,050 shares of the basic materials company’s stock worth $1,748,000 after acquiring an additional 8,350 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Bunge Global during the 1st quarter worth about $280,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of Bunge Global stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised their target price on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Stock Performance

NYSE:BG traded down $1.13 during mid-day trading on Tuesday, reaching $111.72. 137,771 shares of the stock were exchanged, compared to its average volume of 1,543,896. The company has a 50 day simple moving average of $106.61 and a 200-day simple moving average of $100.57. The stock has a market capitalization of $15.82 billion, a P/E ratio of 9.09 and a beta of 0.67. 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 SA has a 1 year low of $86.10 and a 1 year high of $116.59.

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

Bunge Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a yield of 2.43%. Bunge Global’s dividend payout ratio is presently 21.90%.

Bunge Global 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.