Bunge Global SA (NYSE:BG) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in Bunge Global SA (NYSE:BG - Free Report) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,056 shares of the basic materials company's stock after purchasing an additional 4,787 shares during the quarter. Mackenzie Financial Corp's holdings in Bunge Global were worth $3,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BG. Spire Wealth Management acquired a new stake in shares of Bunge Global in the fourth quarter valued at about $26,000. Crews Bank & Trust purchased a new position in Bunge Global in the fourth quarter valued at about $39,000. R Squared Ltd acquired a new stake in shares of Bunge Global during the 4th quarter valued at approximately $45,000. Financial Perspectives Inc lifted its position in shares of Bunge Global by 585.0% during the 4th quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 585 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Bunge Global by 32.3% during 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. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BG. Citigroup raised their price objective on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Stephens lowered their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Barclays cut their price target on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Bank of America decreased their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley dropped their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $81.60.

Bunge Global Trading Down 2.4%

Shares of BG traded down $1.92 on Tuesday, hitting $76.45. 1,584,299 shares of the stock traded hands, compared to its average volume of 1,633,753. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The stock's 50 day moving average is $77.83 and its two-hundred day moving average is $77.96. The firm has a market capitalization of $10.28 billion, a P/E ratio of 9.46, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last issued 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 return on equity of 11.73% and a net margin of 2.14%. The company had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. During the same period in the previous year, the firm posted $3.04 EPS. Bunge Global's revenue was down 13.2% on a year-over-year basis. As a group, sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The business 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 dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.66%. Bunge Global's payout ratio is currently 35.53%.

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.