Mufg Securities Americas Inc. Acquires Shares of 2,061 Bunge Global SA (NYSE:BG)

Mufg Securities Americas Inc. acquired a new stake in Bunge Global SA (NYSE:BG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,061 shares of the basic materials company’s stock, valued at approximately $160,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BG. Pacer Advisors Inc. increased its position in Bunge Global by 13,459.9% in the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock valued at $229,894,000 after acquiring an additional 2,934,656 shares in the last quarter. Norges Bank acquired a new stake in Bunge Global in the 4th quarter valued at about $148,857,000. Invesco Ltd. increased its position in Bunge Global by 28.6% in the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock valued at $249,349,000 after acquiring an additional 713,561 shares in the last quarter. FMR LLC grew its position in shares of Bunge Global by 25.3% during the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock worth $269,488,000 after buying an additional 699,889 shares during the period. Finally, Man Group plc acquired a new stake in shares of Bunge Global during the 4th quarter worth approximately $50,561,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stephens lowered their price target on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Morgan Stanley lowered their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Bank of America lowered their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Barclays lowered their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup lifted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Bunge Global currently has a consensus rating of “Hold” and an average price target of $81.60.

Bunge Global Stock Up 1.9%

Shares of NYSE BG opened at $81.52 on Friday. The stock has a market cap of $10.96 billion, a P/E ratio of 10.09, a P/E/G ratio of 2.66 and a beta of 0.68. The firm has a 50 day moving average price of $76.73 and a 200 day moving average price of $78.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. The firm had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.04 earnings per share. Analysts expect that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, May 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. This is a boost from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s payout ratio is currently 34.52%.

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.