Pacific Point Advisors LLC Purchases New Position in Bunge Global SA (NYSE:BG)

Pacific Point Advisors LLC acquired a new position in Bunge Global SA (NYSE:BG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,117 shares of the basic materials company's stock, valued at approximately $459,000.

A number of other large investors have also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Bunge Global by 3.9% during 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 buying an additional 170 shares during the period. Deseret Mutual Benefit Administrators increased its holdings in Bunge Global by 25.4% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock worth $68,000 after acquiring an additional 178 shares in the last quarter. DoubleLine ETF Adviser LP raised its position in Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock worth $615,000 after acquiring an additional 183 shares during the period. Allworth Financial LP raised its position in shares of Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock valued at $62,000 after buying an additional 194 shares during the last quarter. Finally, Abbot Financial Management Inc. raised its holdings in Bunge Global by 0.9% in the 4th quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock valued at $1,786,000 after acquiring an additional 205 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on BG shares. Morgan Stanley reduced their price target on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Bank of America decreased their price target on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Barclays cut their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Citigroup boosted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Stephens dropped their price target 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Up 0.5%

BG stock traded up $0.39 during mid-day trading on Wednesday, reaching $79.63. The company had a trading volume of 701,236 shares, compared to its average volume of 1,625,851. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The firm has a fifty day simple moving average of $77.40 and a 200 day simple moving average of $78.30.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating the consensus estimate 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 11.73% and a net margin of 2.14%. The company's quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the firm earned $3.04 EPS. Analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

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 paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Tuesday, February 17th. Bunge Global's payout ratio is 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.