Bunge Global SA (NYSE:BG) Announces $0.70 Quarterly Dividend

Bunge Global SA (NYSE:BG - Get Free Report) announced a quarterly dividend on Tuesday, May 20th, Wall Street Journal reports. Investors of record on Tuesday, February 17th will be paid 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 dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, February 17th.

Bunge Global has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.6%

Shares of NYSE BG traded up $0.43 during mid-day trading on Friday, reaching $78.23. 1,272,045 shares of the company were exchanged, compared to its average volume of 1,630,116. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 2.66 and a beta of 0.68. Bunge Global has a 1 year low of $67.40 and a 1 year high of $114.92. The firm has a 50-day moving average of $77.23 and a 200 day moving average of $78.42.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.18 billion. During the same period last year, the business posted $3.04 earnings per share. The firm's revenue was down 13.2% compared to the same quarter last year. On average, research analysts expect that Bunge Global will post 7.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Focus Partners Wealth increased its holdings in shares of Bunge Global by 16.7% in the first quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company's stock valued at $309,000 after purchasing an additional 580 shares during the period. Woodline Partners LP increased its holdings in shares of Bunge Global by 34.5% in the first quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company's stock valued at $862,000 after purchasing an additional 2,893 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of Bunge Global in the first quarter valued at about $223,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BG has been the subject of a number of research analyst reports. Bank of America decreased their price target on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Citigroup increased their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Barclays decreased their price target on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Morgan Stanley decreased their price target on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Finally, Stephens decreased their price target 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. 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.com, the stock currently has a consensus rating of "Hold" and an average 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.