Croban Takes $797,000 Position in Bunge Global SA (NYSE:BG)

Croban bought a new stake in shares of Bunge Global SA (NYSE:BG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,432 shares of the basic materials company's stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its position in Bunge Global by 18.4% in the 1st quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock worth $76,000 after purchasing an additional 146 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in Bunge Global by 3.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock worth $351,000 after purchasing an additional 170 shares during the period. DoubleLine ETF Adviser LP raised its position in Bunge Global by 2.4% in the 4th quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock worth $615,000 after purchasing an additional 183 shares during the period. Spire Wealth Management boosted its holdings in Bunge Global by 66.5% during the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 222 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Bunge Global by 15.7% during the 4th 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BG shares. Citigroup increased their price objective on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Stephens lowered their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $81.60.

Bunge Global Trading Up 0.2%

NYSE:BG traded up $0.16 during midday trading on Friday, reaching $76.70. 1,524,018 shares of the stock traded hands, compared to its average volume of 1,708,015. The company has a fifty day moving average of $79.29 and a 200 day moving average of $76.91. Bunge Global SA has a 12 month low of $67.40 and a 12 month 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. The stock has a market capitalization of $10.31 billion, a P/E ratio of 9.73, a PEG ratio of 3.80 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The company had revenue of $11.64 billion during the quarter, compared to analyst estimates of $13.18 billion. During the same period in the prior year, the business posted $3.04 EPS. The firm's 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 EPS for the current year.

Bunge Global Announces Dividend

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 3.65%. Bunge Global's payout ratio is 35.53%.

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.