Bunge Global (NYSE:BG) Stock Price Up 5.7% - Here's Why

Bunge Global SA (NYSE:BG - Get Free Report) shares traded up 5.7% on Friday . The company traded as high as $82.41 and last traded at $81.42. 801,335 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,636,140 shares. The stock had previously closed at $77.03.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Stephens reduced their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Citigroup raised their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $81.60.

Bunge Global Trading Up 5.6%

The business's fifty day moving average is $77.96 and its 200-day moving average is $77.32. The firm has a market cap of $10.93 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15.

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

Bunge Global Dividend Announcement

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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 35.53%.

Hedge Funds Weigh In On Bunge Global

A number of hedge funds and other institutional investors have recently made changes to their positions in BG. Manchester Capital Management LLC lifted its holdings in Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 359 shares during the last quarter. UMB Bank n.a. increased its position in shares of Bunge Global by 163.1% in the first quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after purchasing an additional 261 shares during the last quarter. Riverview Trust Co increased its position in shares of Bunge Global by 130.8% in the first quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock worth $34,000 after purchasing an additional 255 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Bunge Global in the first quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Bunge Global by 197.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company's stock worth $39,000 after purchasing an additional 341 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.