Jennison Associates LLC Increases Stock Position in Bunge Global SA (NYSE:BG)

Jennison Associates LLC increased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,297 shares of the basic materials company's stock after buying an additional 4,864 shares during the period. Jennison Associates LLC owned 0.06% of Bunge Global worth $6,289,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BG. Norges Bank acquired a new position in Bunge Global during the fourth quarter worth $148,857,000. Voloridge Investment Management LLC raised its position in Bunge Global by 443.2% during the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock worth $94,503,000 after acquiring an additional 991,607 shares during the period. Invesco Ltd. raised its position in Bunge Global by 28.6% during the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after acquiring an additional 713,561 shares during the period. FMR LLC raised its position in 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 acquiring an additional 699,889 shares during the period. Finally, Man Group plc acquired a new position in Bunge Global during the fourth quarter worth $50,561,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Up 1.8%

Shares of BG opened at $74.46 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.12 and a debt-to-equity ratio of 0.41. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The firm has a 50-day moving average price of $78.97 and a 200 day moving average price of $76.76. The firm has a market capitalization of $10.01 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.69 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last announced 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. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The firm had revenue of $11.64 billion during the quarter, compared to analyst estimates of $13.18 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. Bunge Global's quarterly revenue was down 13.2% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio is currently 35.53%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BG shares. Citigroup upped their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Stephens reduced their target price on shares of 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $81.60.

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.

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