Chesley Taft & Associates LLC Makes New Investment in Bunge Global SA (NYSE:BG)

Chesley Taft & Associates LLC purchased a new stake in shares of Bunge Global SA (NYSE:BG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,807 shares of the basic materials company's stock, valued at approximately $291,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new position in Bunge Global during the fourth quarter worth about $26,000. NBC Securities Inc. bought a new position in Bunge Global during the first quarter worth about $42,000. Menard Financial Group LLC bought a new position in Bunge Global during the fourth quarter worth about $47,000. MassMutual Private Wealth & Trust FSB boosted its position in Bunge Global by 151.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the basic materials company's stock worth $47,000 after purchasing an additional 373 shares during the period. Finally, Financial Perspectives Inc boosted its position in Bunge Global by 585.0% during the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company's stock worth $53,000 after purchasing an additional 585 shares during the period. Institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stephens cut their target price 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. Morgan Stanley cut their price objective on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Bank of America cut their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup raised their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Bunge Global has an average rating of "Hold" and a consensus price target of $81.60.

Bunge Global Price Performance

BG traded up $0.73 on Friday, reaching $74.58. The company had a trading volume of 956,637 shares, compared to its average volume of 1,635,241. The business has a 50 day simple moving average of $77.68 and a 200 day simple moving average of $77.57. The company has a market cap of $10.02 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Bunge Global's quarterly revenue was down 13.2% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. As a group, sell-side analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend 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.