Mackenzie Financial Corp Has $1.80 Million Stake in Bunge Global SA (NYSE:BG)

Key Points

• Mackenzie Financial Corp has reduced its holdings in Bunge Global SA by 39.8%, selling 15,536 shares and now owning 23,520 shares valued at approximately $1.8 million.
• Analysts have mixed ratings on Bunge Global, with Citigroup raising the price target to $77 and an overall consensus rating of "Hold" with a price target of $81.60.
• Bunge Global recently reported earnings of $1.31 per share, surpassing expectations, but experienced a 3.6% year-over-year revenue decline despite quarterly revenue of $12.77 billion.

Mackenzie Financial Corp lessened its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 39.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,520 shares of the basic materials company's stock after selling 15,536 shares during the period. Mackenzie Financial Corp's holdings in Bunge Global were worth $1,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BG. Kingsview Wealth Management LLC purchased a new stake in Bunge Global during the 1st quarter worth approximately $9,180,000. GAMMA Investing LLC boosted its position in Bunge Global by 152.1% in the first quarter. GAMMA Investing LLC now owns 3,275 shares of the basic materials company's stock valued at $250,000 after buying an additional 1,976 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in Bunge Global in the 4th quarter worth approximately $1,596,000. Nisa Investment Advisors LLC lifted its stake in Bunge Global by 23.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,341 shares of the basic materials company's stock valued at $408,000 after acquiring an additional 1,021 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Bunge Global by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 277,996 shares of the basic materials company's stock valued at $21,617,000 after acquiring an additional 3,900 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Down 1.7%

Shares of BG stock traded down $1.37 during trading hours on Wednesday, reaching $81.04. The company had a trading volume of 2,387,009 shares, compared to its average volume of 1,834,706. The company has a market capitalization of $10.89 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 4.98 and a beta of 0.67. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $101.81. The stock's fifty day simple moving average is $78.51 and its 200 day simple moving average is $76.68. 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 posted its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.19 by $0.12. The company had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The business's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, sell-side analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's payout ratio is 27.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BG shares. Citigroup boosted their price objective 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 target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $81.60.

About Bunge Global

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.