Abacus Planning Group Inc. Buys New Position in Bunge Global SA (NYSE:BG)

Abacus Planning Group Inc. purchased a new position in shares of Bunge Global SA (NYSE:BG) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 3,030 shares of the basic materials company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Bunge Global during the fourth quarter valued at about $148,857,000. Voloridge Investment Management LLC increased its stake in Bunge Global by 443.2% in the 4th quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company’s stock valued at $94,503,000 after buying an additional 991,607 shares during the last quarter. Invesco Ltd. lifted its position in shares of Bunge Global by 28.6% during the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after buying an additional 713,561 shares in the last quarter. FMR LLC lifted 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 in the last quarter. Finally, Man Group plc purchased a new position in shares of Bunge Global in the 4th quarter worth approximately $50,561,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BG. Citigroup increased their price target on Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. 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 note on Thursday, May 8th. Bank of America lowered their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, 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 report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $81.60.

Bunge Global Trading Up 1.0%

NYSE:BG opened at $74.58 on Monday. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92. 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 firm’s 50 day moving average is $77.68 and its 200 day moving average is $77.57. The stock has a market capitalization of $10.02 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) 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 firm had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same period in the previous year, the company posted $3.04 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. Sell-side analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s dividend payout ratio is currently 35.53%.

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.