ProShare Advisors LLC Buys 5,826 Shares of Bunge Global SA (NYSE:BG)

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

Other large investors have also recently bought and sold shares of the company. Spire Wealth Management acquired a new position in Bunge Global in the fourth quarter worth $26,000. Crews Bank & Trust acquired a new position in Bunge Global in the fourth quarter worth $39,000. R Squared Ltd acquired a new position in Bunge Global in the fourth quarter worth $45,000. Financial Perspectives Inc boosted its stake in Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company's stock worth $53,000 after purchasing an additional 585 shares in the last quarter. Finally, Allworth Financial LP boosted its stake 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 purchasing an additional 194 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Trading Down 1.5%

Shares of BG opened at $80.32 on Tuesday. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The stock's fifty day simple moving average is $76.87 and its 200-day simple moving average is $78.55. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $10.80 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.54. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The firm had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. The company's quarterly revenue was down 13.2% on a year-over-year basis. As a group, research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's payout ratio is 34.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on BG. Stephens reduced their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Bank of America cut 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 target on 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. Citigroup upped their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Bunge Global currently has an average rating of "Hold" and an average price target of $81.60.

Bunge Global 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.