Merit Financial Group LLC Takes Position in Bunge Global SA (NYSE:BG)

Merit Financial Group LLC bought a new stake in Bunge Global SA (NYSE:BG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,942 shares of the basic materials company's stock, valued at approximately $378,000.

Several other institutional investors have also added to or reduced their stakes in BG. NBC Securities Inc. bought a new position in shares of Bunge Global during the 1st quarter worth approximately $42,000. Czech National Bank boosted its holdings in shares of Bunge Global by 1.3% during the 1st quarter. Czech National Bank now owns 30,658 shares of the basic materials company's stock worth $2,343,000 after buying an additional 384 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Bunge Global by 9.2% during the 1st quarter. Rhumbline Advisers now owns 278,386 shares of the basic materials company's stock worth $21,274,000 after buying an additional 23,407 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Bunge Global by 271.0% during the 1st quarter. Parallel Advisors LLC now owns 2,946 shares of the basic materials company's stock worth $225,000 after buying an additional 2,152 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Bunge Global by 19,166.8% during the 1st quarter. GAMMA Investing LLC now owns 250,276 shares of the basic materials company's stock worth $19,126,000 after buying an additional 248,977 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BG has been the topic of a number of research reports. Stephens lowered their target price 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. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Bunge Global presently has an average rating of "Hold" and an average price target of $81.60.

Bunge Global Stock Up 5.6%

NYSE BG traded up $4.29 on Friday, reaching $81.32. The company had a trading volume of 3,966,496 shares, compared to its average volume of 1,649,171. The stock has a market capitalization of $10.93 billion, a P/E ratio of 10.06, a P/E/G ratio of 2.66 and a beta of 0.68. The company's fifty day moving average is $77.96 and its 200 day moving average is $77.32. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. 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 released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. The business had revenue of $11.64 billion during the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Bunge Global's quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 EPS. Sell-side analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current fiscal 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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's payout ratio is currently 35.53%.

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.