Covestor Ltd Buys 797 Shares of Bunge Global SA (NYSE:BG)

Covestor Ltd grew its stake in shares of Bunge Global SA (NYSE:BG) by 69.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,938 shares of the basic materials company’s stock after acquiring an additional 797 shares during the period. Covestor Ltd’s holdings in Bunge Global were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BG. American Century Companies Inc. raised its holdings in shares of Bunge Global by 57.2% during the 3rd quarter. American Century Companies Inc. now owns 104,436 shares of the basic materials company’s stock worth $11,305,000 after buying an additional 38,001 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Bunge Global by 207.4% in the third quarter. Wellington Management Group LLP now owns 22,373 shares of the basic materials company’s stock worth $2,422,000 after acquiring an additional 15,095 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Bunge Global by 423.6% in the 4th quarter. SG Americas Securities LLC now owns 52,247 shares of the basic materials company’s stock valued at $5,274,000 after purchasing an additional 42,268 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of Bunge Global by 14.0% during the 4th quarter. Mutual Advisors LLC now owns 6,579 shares of the basic materials company’s stock valued at $664,000 after purchasing an additional 810 shares during the last quarter. Finally, Cooper Financial Group acquired a new position in Bunge Global during the 4th quarter worth approximately $205,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price target on Bunge Global from $117.00 to $122.00 and gave the company 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 issued a buy rating to the company. Based on data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Bunge Global Trading Down 1.3 %

Shares of Bunge Global stock traded down $1.51 during midday trading on Tuesday, reaching $111.34. The company had a trading volume of 182,829 shares, compared to its average volume of 1,544,217. The firm has a market cap of $15.77 billion, a PE ratio of 9.09 and a beta of 0.67. The stock has a fifty day moving average price of $106.61 and a 200 day moving average price of $100.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.10. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $116.59.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The company had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same period in the prior year, the company posted $3.26 earnings per share. Bunge Global’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, equities analysts anticipate that Bunge Global SA will post 9.2 earnings per share 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 paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is presently 21.90%.

Insiders Place Their Bets

In related news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares in the company, valued at approximately $9,086,776.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.