Bunge Global SA (NYSE:BG) to Issue Quarterly Dividend of $0.70

Bunge Global SA (NYSE:BG - Get Free Report) declared a quarterly dividend on Tuesday, May 20th, Wall Street Journal reports. Investors of record on Tuesday, February 17th will be given a dividend of 0.70 per share by the basic materials company on Tuesday, March 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Tuesday, February 17th.

Bunge Global has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bunge Global to earn $8.98 per share next year, which means the company should continue to be able to cover its $2.65 annual dividend with an expected future payout ratio of 29.5%.

Bunge Global Price Performance

Shares of NYSE BG opened at $80.32 on Tuesday. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company has a 50 day simple moving average of $76.87 and a two-hundred day simple moving average of $78.55. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 9.94, a P/E/G 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 issued 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 business had revenue of $11.64 billion for the quarter, compared to analysts' expectations 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 company posted $3.04 EPS. Analysts expect that Bunge Global will post 7.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BG shares. Citigroup boosted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Barclays decreased their target price on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Morgan Stanley decreased their price target on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Bank of America decreased their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, Stephens cut their price objective 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $81.60.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bunge Global stock. Woodline Partners LP lifted its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 34.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,278 shares of the basic materials company's stock after buying an additional 2,893 shares during the quarter. Woodline Partners LP's holdings in Bunge Global were worth $862,000 at the end of the most recent reporting period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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