ProShare Advisors LLC Has $3.14 Million Position in Bunge Global SA (NYSE:BG)

ProShare Advisors LLC lifted its stake in Bunge Global SA (NYSE:BG - Free Report) by 16.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,410 shares of the basic materials company's stock after purchasing an additional 5,826 shares during the quarter. ProShare Advisors LLC's holdings in Bunge Global were worth $3,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in BG. Pacer Advisors Inc. grew its holdings in Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company's stock valued at $229,894,000 after purchasing an additional 2,934,656 shares during the last quarter. Norges Bank acquired a new position in Bunge Global during the fourth quarter valued at approximately $148,857,000. Invesco Ltd. grew its holdings in Bunge Global by 28.6% during the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after purchasing an additional 713,561 shares during the last quarter. FMR LLC grew its holdings in Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock valued at $269,488,000 after purchasing an additional 699,889 shares during the last quarter. Finally, Man Group plc acquired a new position in Bunge Global during the fourth quarter valued at approximately $50,561,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

BG stock traded up $0.43 during midday trading on Friday, hitting $78.23. The stock had a trading volume of 1,272,045 shares, compared to its average volume of 1,630,116. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 2.66 and a beta of 0.68. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The stock has a 50-day simple moving average of $77.23 and a 200 day simple moving average of $78.36. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last issued 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 company 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 business's revenue was down 13.2% on a year-over-year basis. During the same period last year, the business earned $3.04 earnings per share. As a group, equities research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

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 issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.58%. Bunge Global's payout ratio is presently 35.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Stephens lowered their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Citigroup raised their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Finally, Barclays lowered their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.