Bunge Global SA (NYSE:BG) Stake Reduced by CoreCap Advisors LLC

CoreCap Advisors LLC cut its holdings in Bunge Global SA (NYSE:BG) by 19.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 588 shares of the basic materials company’s stock after selling 146 shares during the quarter. CoreCap Advisors LLC’s holdings in Bunge Global were worth $46,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management bought a new stake in Bunge Global in the fourth quarter worth about $26,000. Crews Bank & Trust bought a new stake in Bunge Global in the fourth quarter worth about $39,000. R Squared Ltd bought a new stake in Bunge Global in the fourth quarter worth about $45,000. Financial Perspectives Inc raised its position in Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 585 shares in the last quarter. Finally, Allworth Financial LP raised its position 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 acquiring an additional 194 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Price Performance

NYSE BG opened at $82.13 on Thursday. The stock’s 50-day moving average price is $76.51 and its two-hundred day moving average price is $78.76. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. The company has a market cap of $11.04 billion, a PE ratio of 10.16, a PEG ratio of 2.66 and a beta of 0.68. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92.

Bunge Global (NYSE:BG) last released its earnings results 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. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The company had revenue of $11.64 billion for the quarter, compared to analysts’ expectations of $13.18 billion. During the same quarter in the previous year, the business posted $3.04 EPS. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, May 19th. This is a boost from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s payout ratio is 34.52%.

Analyst Upgrades and Downgrades

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

Bunge Global Company 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.