ASR Vermogensbeheer N.V. Purchases New Stake in Bunge Global SA (NYSE:BG)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Bunge Global SA, purchasing 78,696 shares valued at approximately $6,014,000, representing about 0.06% of the company.
• Bunge Global reported a 1.31 EPS for the most recent quarter, exceeding the consensus estimate by $0.12, despite a 3.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.70 per share, translating to an annual yield of 3.5% and a payout ratio of 27.97%.

ASR Vermogensbeheer N.V. purchased a new stake in shares of Bunge Global SA (NYSE:BG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 78,696 shares of the basic materials company's stock, valued at approximately $6,014,000. ASR Vermogensbeheer N.V. owned approximately 0.06% of Bunge Global as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. AustralianSuper Pty Ltd acquired a new stake in Bunge Global in the 1st quarter worth $92,552,000. Voloridge Investment Management LLC lifted its stake in shares of Bunge Global by 443.2% in the fourth 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 period. Invesco Ltd. grew its position in Bunge Global by 28.6% during the fourth 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 grew its position in Bunge Global by 25.3% during the fourth 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 bought a new position in Bunge Global during the fourth quarter valued at about $50,561,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BG has been the subject of a number of recent research reports. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Stephens dropped their price objective on shares of 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $81.60.

Bunge Global Trading Up 0.4%

Shares of BG stock traded up $0.29 on Friday, reaching $83.04. The company had a trading volume of 1,505,499 shares, compared to its average volume of 1,924,712. The stock has a market cap of $11.16 billion, a PE ratio of 8.30, a PEG ratio of 5.11 and a beta of 0.67. The company has a 50-day moving average of $78.71 and a 200-day moving average of $76.76. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $101.81.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.12. The company had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. On average, equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders 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 3.4%. Bunge Global's payout ratio is 27.97%.

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.