Exchange Traded Concepts LLC Acquires 3,706 Shares of Bunge Global SA (NYSE:BG)

Exchange Traded Concepts LLC boosted its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,867 shares of the basic materials company's stock after purchasing an additional 3,706 shares during the quarter. Exchange Traded Concepts LLC's holdings in Bunge Global were worth $1,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BG. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Bunge Global by 3.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock valued at $351,000 after acquiring an additional 170 shares during the period. Deseret Mutual Benefit Administrators raised its position in shares of Bunge Global by 25.4% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock worth $68,000 after acquiring an additional 178 shares in the last quarter. DoubleLine ETF Adviser LP raised its position in shares of 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 acquiring an additional 183 shares in the last quarter. Allworth Financial LP raised its position in shares of Bunge Global by 32.3% in the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock worth $62,000 after acquiring an additional 194 shares in the last quarter. Finally, Abbot Financial Management Inc. raised its stake in Bunge Global by 0.9% in the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock valued at $1,786,000 after buying an additional 205 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Down 0.1%

Shares of BG opened at $85.64 on Thursday. The stock has a 50 day moving average price of $78.75 and a 200 day moving average price of $77.25. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 4.25 and a beta of 0.68. 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 SA has a one year low of $67.40 and a one year high of $114.92.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The company had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. Equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is presently 35.53%.

Analyst Upgrades and Downgrades

A number of research 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 report on Tuesday, April 15th. Stephens cut their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Bunge Global has a consensus rating of "Hold" and an average price target of $81.60.

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.

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