Hussman Strategic Advisors Inc. Makes New $3.21 Million Investment in Bunge Global SA (NYSE:BG)

Hussman Strategic Advisors Inc. acquired a new position in shares of Bunge Global SA (NYSE:BG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,000 shares of the basic materials company's stock, valued at approximately $3,210,000. Bunge Global makes up 0.8% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 22nd biggest holding.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Bunge Global during the fourth quarter worth about $148,857,000. Voloridge Investment Management LLC increased its stake in Bunge Global by 443.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock valued at $94,503,000 after acquiring an additional 991,607 shares during the last quarter. Invesco Ltd. increased its stake in Bunge Global by 28.6% in the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after acquiring an additional 713,561 shares during the last quarter. FMR LLC grew its stake in shares of Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after buying an additional 699,889 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of Bunge Global during the fourth quarter worth $50,561,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BG. Stephens reduced their price objective 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. Citigroup boosted their price objective 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. Three 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 currently has a consensus rating of "Hold" and an average target price of $81.60.

Bunge Global Trading Up 1.3%

BG stock traded up $0.97 during midday trading on Friday, hitting $74.13. The stock had a trading volume of 147,518 shares, compared to its average volume of 1,713,359. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The firm has a market cap of $9.96 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 3.62 and a beta of 0.67. The company has a current ratio of 2.04, a quick ratio of 1.12 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average price of $79.03 and a two-hundred day moving average price of $76.79.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The business had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter last year, the firm earned $3.04 EPS. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. On average, sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio is currently 35.53%.

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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