Charles Schwab Investment Management Inc. Acquires 101,586 Shares of Bunge Global SA (NYSE:BG)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Bunge Global SA by 6.8%, owning 1,603,669 shares valued at approximately $122.55 million.
• Various institutional investors, including Manchester Capital Management and UMB Bank n.a., significantly boosted their stakes, resulting in institutional investors owning 86.23% of Bunge's stock.
• Bunge Global announced a quarterly dividend of $0.70 per share, with a dividend yield of 3.4%, and a payout ratio of 27.97%.

Charles Schwab Investment Management Inc. increased its position in Bunge Global SA (NYSE:BG - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,603,669 shares of the basic materials company's stock after purchasing an additional 101,586 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.20% of Bunge Global worth $122,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in Bunge Global by 163.1% during the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 261 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Bunge Global by 588.5% in the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after buying an additional 359 shares during the period. Riverview Trust Co boosted its holdings in shares of Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock valued at $34,000 after buying an additional 255 shares during the period. NBC Securities Inc. acquired a new position in shares of Bunge Global in the 1st quarter valued at about $42,000. Finally, Spire Wealth Management boosted its holdings in shares of Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after buying an additional 222 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

NYSE BG traded down $0.33 on Friday, hitting $81.77. 1,131,009 shares of the company were exchanged, compared to its average volume of 1,969,521. The firm has a 50 day moving average of $79.39 and a two-hundred day moving average of $76.92. The company has a market cap of $16.36 billion, a P/E ratio of 8.17, a P/E/G ratio of 5.07 and a beta of 0.67. 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 1-year low of $67.40 and a 1-year high of $101.81.

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

Bunge Global Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be given a $0.70 dividend. This represents a dividend yield of 342.0%. The ex-dividend date is Tuesday, August 19th. Bunge Global's dividend payout ratio (DPR) is currently 27.97%.

Analyst Upgrades and Downgrades

Several research firms have commented on BG. Stephens lowered 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. Morgan Stanley set a $83.00 target price on shares of Bunge Global and gave the stock an "equal weight" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.40.

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.