Aviance Capital Partners LLC Acquires Shares of 11,290 Bunge Global SA (NYSE:BG)

Aviance Capital Partners LLC bought a new position in Bunge Global SA (NYSE:BG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,290 shares of the basic materials company's stock, valued at approximately $863,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Bunge Global during the fourth quarter worth $148,857,000. Voloridge Investment Management LLC boosted its stake in shares of Bunge Global by 443.2% during the 4th quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock worth $94,503,000 after acquiring an additional 991,607 shares in the last quarter. Invesco Ltd. raised its position in shares of Bunge Global by 28.6% during the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after purchasing an additional 713,561 shares during the last quarter. FMR LLC raised its position in shares of Bunge Global by 25.3% during the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after purchasing an additional 699,889 shares during the last quarter. Finally, Man Group plc acquired a new stake in Bunge Global in the 4th quarter valued at about $50,561,000. Institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

BG has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Stephens decreased 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 report 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's stock. According to data from MarketBeat.com, Bunge Global currently has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Price Performance

BG stock traded up $1.15 during trading on Tuesday, reaching $76.00. 1,226,329 shares of the company were exchanged, compared to its average volume of 1,691,457. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The company has a market cap of $10.21 billion, a P/E ratio of 9.64, a PEG ratio of 3.89 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04. The stock's 50 day moving average price is $79.52 and its 200 day moving average price is $76.96.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. The business had revenue of $11.64 billion during the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The company's revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 earnings per share. As a group, analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, February 17th. Bunge Global's payout ratio is currently 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.