ARGA Investment Management LP Takes Position in Bunge Global SA (NYSE:BG)

ARGA Investment Management LP acquired a new position in shares of Bunge Global SA (NYSE:BG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,631 shares of the basic materials company's stock, valued at approximately $1,500,000.

A number of other hedge funds also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. raised its position in shares of Bunge Global by 12.8% during the first quarter. Crossmark Global Holdings Inc. now owns 30,768 shares of the basic materials company's stock worth $2,351,000 after acquiring an additional 3,481 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Bunge Global by 10.0% during the first quarter. Concurrent Investment Advisors LLC now owns 5,024 shares of the basic materials company's stock worth $384,000 after acquiring an additional 456 shares during the last quarter. Aviance Capital Partners LLC bought a new position in shares of Bunge Global during the first quarter worth about $863,000. Checchi Capital Advisers LLC bought a new stake in Bunge Global in the first quarter worth approximately $202,000. Finally, Mutual Advisors LLC bought a new stake in Bunge Global in the first quarter worth approximately $873,000. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BG has been the subject of a number of research analyst reports. Stephens lowered their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Citigroup lifted their target price on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Bunge Global presently has a consensus rating of "Hold" and a consensus price target of $81.60.

Bunge Global Trading Down 4.5%

Shares of Bunge Global stock opened at $74.92 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The stock has a 50 day moving average price of $79.52 and a two-hundred day moving average price of $76.96. The stock has a market capitalization of $10.07 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 3.89 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings data 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 9.98% and a net margin of 2.13%. The firm had revenue of $11.64 billion during the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The company's revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, equities analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.74%. Bunge Global's payout ratio is 35.53%.

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.

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