Raiffeisen Bank International AG Invests $593,000 in Bunge Global SA (NYSE:BG)

Raiffeisen Bank International AG purchased a new stake in shares of Bunge Global SA (NYSE:BG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,712 shares of the basic materials company’s stock, valued at approximately $593,000.

A number of other institutional investors also recently bought and sold shares of BG. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Bunge Global by 3.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 170 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of Bunge Global by 25.4% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 178 shares in the last quarter. DoubleLine ETF Adviser LP boosted its position in shares of Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company’s stock valued at $615,000 after purchasing an additional 183 shares in the last quarter. Allworth Financial LP grew its stake in Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 194 shares during the period. Finally, Abbot Financial Management Inc. raised its holdings in Bunge Global by 0.9% in the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company’s stock worth $1,786,000 after purchasing an additional 205 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Up 1.9%

NYSE:BG opened at $81.52 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm 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. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The firm has a 50-day simple moving average of $76.73 and a two-hundred day simple moving average of $78.60.

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

Bunge Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.70 dividend. The ex-dividend date is Monday, May 19th. This represents a $2.80 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BG. Bank of America dropped their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup boosted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Barclays decreased their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley dropped their price target on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Finally, Stephens reduced their price objective on Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.60.

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.