KBC Group NV Acquires 174,344 Shares of Bunge Global SA (NYSE:BG)

KBC Group NV raised its stake in Bunge Global SA (NYSE:BG - Free Report) by 366.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,936 shares of the basic materials company's stock after acquiring an additional 174,344 shares during the quarter. KBC Group NV owned about 0.17% of Bunge Global worth $16,961,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BG. IFP Advisors Inc lifted its holdings in Bunge Global by 17.0% during the 4th quarter. IFP Advisors Inc now owns 1,852 shares of the basic materials company's stock worth $144,000 after purchasing an additional 269 shares during the last quarter. Bank of New York Mellon Corp increased its position in Bunge Global by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 840,587 shares of the basic materials company's stock worth $65,364,000 after buying an additional 41,884 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Bunge Global during the fourth quarter worth $2,253,000. US Bancorp DE boosted its position in shares of Bunge Global by 33.3% in the fourth quarter. US Bancorp DE now owns 5,281 shares of the basic materials company's stock valued at $411,000 after acquiring an additional 1,320 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Bunge Global by 15.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,655 shares of the basic materials company's stock valued at $129,000 after acquiring an additional 225 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stephens lowered their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Citigroup raised their target price 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Price Performance

Shares of NYSE BG traded down $3.02 during mid-day trading on Friday, reaching $78.37. The company had a trading volume of 2,076,553 shares, compared to its average volume of 1,690,017. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 3.89 and a beta of 0.67. The business's 50-day simple moving average is $79.64 and its 200 day simple moving average is $77.01. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92. 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 (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The firm had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same period last year, the firm earned $3.04 EPS. The business's quarterly revenue was down 13.2% compared to the same quarter last year. On average, research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The company also recently disclosed 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 is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.57%. Bunge Global's dividend payout ratio is currently 35.53%.

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.