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Illinois Municipal Retirement Fund Increases Stock Position in Bunge Global SA (NYSE:BG)

Bunge Global logo with Basic Materials background

Illinois Municipal Retirement Fund increased its holdings in Bunge Global SA (NYSE:BG - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,153 shares of the basic materials company's stock after purchasing an additional 36,861 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.10% of Bunge Global worth $10,405,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BG. Diversified Trust Co acquired a new stake in shares of Bunge Global during the first quarter worth $1,475,000. Spire Wealth Management lifted its position in shares of 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. Yorktown Management & Research Co Inc acquired a new stake in Bunge Global in the first quarter worth $310,000. Asset Management One Co. Ltd. grew its holdings in Bunge Global by 8.2% in the first quarter. Asset Management One Co. Ltd. now owns 81,427 shares of the basic materials company's stock worth $6,223,000 after purchasing an additional 6,179 shares during the period. Finally, Uncommon Cents Investing LLC increased its stake in Bunge Global by 0.9% in the first quarter. Uncommon Cents Investing LLC now owns 32,075 shares of the basic materials company's stock valued at $2,451,000 after purchasing an additional 295 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of NYSE BG traded down $0.03 during trading on Tuesday, reaching $80.25. 1,330,903 shares of the stock traded hands, compared to its average volume of 1,673,736. The stock has a market capitalization of $10.79 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 3.99 and a beta of 0.68. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 1.12. The company has a 50-day moving average of $79.71 and a 200-day moving average of $76.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. The company had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. Analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. Bunge Global's payout ratio is 35.53%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BG. Citigroup boosted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Stephens cut their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Bunge Global currently has a consensus rating of "Hold" and an average price target of $81.60.

Get Our Latest Stock Report on BG

Bunge Global Profile

(Free Report)

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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Institutional Ownership by Quarter for Bunge Global (NYSE:BG)

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