Oppenheimer & Co. Inc. Increases Position in Bunge Global SA (NYSE:BG)

Oppenheimer & Co. Inc. increased its stake in Bunge Global SA (NYSE:BG - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,197 shares of the basic materials company's stock after acquiring an additional 6,768 shares during the period. Oppenheimer & Co. Inc.'s holdings in Bunge Global were worth $4,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Bunge Global by 3.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock worth $351,000 after purchasing an additional 170 shares during the period. DoubleLine ETF Adviser LP lifted its holdings in Bunge Global by 2.4% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock worth $615,000 after buying an additional 183 shares during the period. Allworth Financial LP lifted its holdings in Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock worth $62,000 after buying an additional 194 shares during the period. Abbot Financial Management Inc. lifted its holdings in Bunge Global by 0.9% in the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock worth $1,786,000 after buying an additional 205 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Bunge Global by 15.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,655 shares of the basic materials company's stock worth $129,000 after buying an additional 225 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

BG stock opened at $83.69 on Wednesday. The firm has a 50 day moving average price of $79.47 and a 200-day moving average price of $77.13. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 4.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04.

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. The business had revenue of $11.64 billion during the quarter, compared to analysts' expectations of $13.18 billion. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. The firm's quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. Equities research analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.35%. Bunge Global's dividend payout ratio (DPR) is presently 35.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stephens lowered their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Citigroup raised their price objective on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. 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 price target of $81.60.

Bunge Global Company 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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