Whalen Wealth Management Inc. Purchases New Shares in Bunge Global SA (NYSE:BG)

Whalen Wealth Management Inc. acquired a new stake in shares of Bunge Global SA (NYSE:BG) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,862 shares of the basic materials company’s stock, valued at approximately $448,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. increased its stake in Bunge Global by 3.9% during the fourth 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 last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Bunge Global by 25.4% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 178 shares during the period. DoubleLine ETF Adviser LP increased its position in shares of Bunge Global by 2.4% during the 4th 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 during the last quarter. Allworth Financial LP increased its position in shares of Bunge Global by 32.3% during the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 194 shares during the last quarter. Finally, Abbot Financial Management Inc. raised its holdings in Bunge Global by 0.9% during the 4th quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company’s stock valued at $1,786,000 after buying an additional 205 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Down 0.2%

BG opened at $85.40 on Monday. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average is $79.18 and its two-hundred day moving average is $77.08. The company has a market capitalization of $11.48 billion, a P/E ratio of 10.84, a PEG ratio of 4.23 and a beta of 0.68. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.54. The firm had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. Analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s payout ratio is 35.53%.

Analyst Upgrades and Downgrades

BG has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Stephens decreased their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.60.

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.