Bunge Global SA (NYSE:BG) Shares Bought by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its ownership in Bunge Global SA by 21.3% during the first quarter, holding 85,410 shares valued at approximately $6.53 million.
• Bunge Global's latest quarterly earnings report showed an EPS of $1.81, exceeding analyst expectations, although revenue fell by 13.2% compared to the previous year.
• The company has recently declared a $0.70 quarterly dividend, with a dividend yield of 3.62% and a payout ratio of 35.53%.

Mediolanum International Funds Ltd lifted its holdings in Bunge Global SA (NYSE:BG - Free Report) by 21.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,410 shares of the basic materials company's stock after acquiring an additional 15,007 shares during the quarter. Mediolanum International Funds Ltd owned 0.06% of Bunge Global worth $6,528,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Bunge Global by 9.5% during the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock valued at $18,815,000 after purchasing an additional 20,942 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Bunge Global by 152.1% in the first quarter. GAMMA Investing LLC now owns 3,275 shares of the basic materials company's stock worth $250,000 after buying an additional 1,976 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Bunge Global in the first quarter worth about $9,180,000. Colrain Capital LLC purchased a new position in shares of Bunge Global in the fourth quarter worth about $2,799,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Bunge Global in the fourth quarter worth about $1,596,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Down 0.4%

Shares of BG traded down $0.29 during trading on Thursday, reaching $80.01. 1,020,188 shares of the company traded hands, compared to its average volume of 1,806,855. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $107.44. The stock has a market cap of $10.75 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 3.79 and a beta of 0.67. The stock has a 50-day simple moving average of $78.36 and a 200-day simple moving average of $76.71. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41.

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 for the quarter, beating analysts' consensus estimates of $1.19 by $0.12. The business had revenue of $12.77 billion during the quarter, compared to analysts' expectations of $12.57 billion. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business earned $1.73 earnings per share. On average, analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 35.53%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup lifted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Stephens reduced their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $81.60.

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.