Pallas Capital Advisors LLC Acquires Shares of 4,009 Bunge Global SA (NYSE:BG)

Pallas Capital Advisors LLC acquired a new stake in Bunge Global SA (NYSE:BG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,009 shares of the basic materials company's stock, valued at approximately $306,000.

A number of other institutional investors have also recently made changes to their positions in BG. American Century Companies Inc. lifted its position in shares of Bunge Global by 9.5% during the 4th quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock worth $18,815,000 after purchasing an additional 20,942 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Bunge Global by 39.6% during the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock worth $1,665,000 after buying an additional 6,077 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bunge Global during the 4th quarter worth about $2,253,000. Colrain Capital LLC acquired a new position in shares of Bunge Global during the 4th quarter worth about $2,799,000. Finally, Allworth Financial LP increased its holdings in shares of Bunge Global by 32.3% in the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 194 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

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

Bunge Global Stock Performance

NYSE:BG traded down $0.53 during mid-day trading on Tuesday, reaching $85.75. 2,245,818 shares of the stock were exchanged, compared to its average volume of 1,662,508. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The company has a 50 day simple moving average of $78.52 and a 200-day simple moving average of $77.19. The stock has a market capitalization of $11.52 billion, a P/E ratio of 10.88, a P/E/G ratio of 4.28 and a beta of 0.68.

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 the consensus estimate of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The firm had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. Bunge Global's revenue for the quarter was down 13.2% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a yield of 3.27%. Bunge Global's payout ratio is 35.53%.

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.