Bunge Global SA (NYSE:BG) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its holdings in shares of Bunge Global SA (NYSE:BG) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,112 shares of the basic materials company’s stock after purchasing an additional 1,179 shares during the period. Rafferty Asset Management LLC’s holdings in Bunge Global were worth $942,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BG. American Century Companies Inc. raised its stake in Bunge Global by 9.5% in the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company’s stock valued at $18,815,000 after buying an additional 20,942 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Bunge Global by 7.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock valued at $302,000 after acquiring an additional 278 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Bunge Global by 39.6% in the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock valued at $1,665,000 after purchasing an additional 6,077 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Bunge Global by 12.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company’s stock valued at $2,935,000 after purchasing an additional 4,296 shares during the last quarter. Finally, Orca Wealth Management LLC acquired a new stake in Bunge Global in the 4th quarter worth approximately $1,238,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Trading Down 2.7%

Shares of Bunge Global stock opened at $78.21 on Thursday. The stock has a market cap of $10.51 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The firm has a fifty day moving average price of $77.10 and a 200 day moving average price of $78.56. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.54. The company had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the firm earned $3.04 EPS. Equities research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, February 17th. Bunge Global’s dividend payout ratio is currently 35.53%.

Wall Street Analyst Weigh In

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