ING Groep NV Grows Stock Position in Bunge Global SA (NYSE:BG)

Key Points

• ING Groep NV increased its stake in Bunge Global SA by 232.8% in the first quarter, acquiring an additional 41,511 shares for a total ownership of 59,344 shares, valued at approximately $4.5 million.
• Recent analyst reports have shown a mixed outlook for Bunge Global, with Stephens lowering their price objective from $90 to $85, while Citigroup increased theirs from $76 to $77, resulting in a current average target price of $81.60.
• Bunge Global announced a quarterly dividend of $0.70 per share, reflecting an annualized yield of 3.4%, with the payment scheduled for March 3rd to stockholders of record.

ING Groep NV lifted its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 232.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,344 shares of the basic materials company's stock after acquiring an additional 41,511 shares during the quarter. ING Groep NV's holdings in Bunge Global were worth $4,535,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC boosted its stake in Bunge Global by 8.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,221 shares of the basic materials company's stock worth $561,000 after purchasing an additional 538 shares during the period. Wellington Management Group LLP boosted its stake in Bunge Global by 30.2% in the 4th quarter. Wellington Management Group LLP now owns 240,595 shares of the basic materials company's stock worth $18,709,000 after purchasing an additional 55,861 shares during the period. Alliancebernstein L.P. boosted its stake in Bunge Global by 4.6% in the 4th quarter. Alliancebernstein L.P. now owns 202,130 shares of the basic materials company's stock worth $15,718,000 after purchasing an additional 8,847 shares during the period. Envestnet Asset Management Inc. boosted its stake in Bunge Global by 9.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 153,620 shares of the basic materials company's stock worth $11,945,000 after purchasing an additional 13,488 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Bunge Global by 12.5% in the 4th quarter. Russell Investments Group Ltd. now owns 86,931 shares of the basic materials company's stock worth $6,754,000 after purchasing an additional 9,648 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BG has been the subject of several recent analyst reports. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Stephens decreased their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $81.60.

Bunge Global Price Performance

Shares of BG traded up $0.29 during mid-day trading on Friday, hitting $83.04. 1,505,499 shares of the stock were exchanged, compared to its average volume of 1,924,712. The company has a market cap of $11.16 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 5.11 and a beta of 0.67. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $101.81. The firm has a 50-day moving average of $78.71 and a two-hundred day moving average of $76.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.12. The business had revenue of $12.77 billion for the quarter, compared to analysts' expectations of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. On average, equities analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio is presently 27.97%.

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.