Rhumbline Advisers Purchases 23,407 Shares of Bunge Global SA (NYSE:BG)

Rhumbline Advisers lifted its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,386 shares of the basic materials company's stock after purchasing an additional 23,407 shares during the quarter. Rhumbline Advisers owned 0.21% of Bunge Global worth $21,274,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Bunge Global by 32.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,425 shares of the basic materials company's stock worth $344,000 after purchasing an additional 1,076 shares in the last quarter. Blue Trust Inc. lifted its stake in Bunge Global by 41.6% in the 4th quarter. Blue Trust Inc. now owns 932 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 274 shares during the last quarter. Spire Wealth Management acquired a new stake in Bunge Global in the 4th quarter valued at about $26,000. Yousif Capital Management LLC grew its holdings in Bunge Global by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 22,546 shares of the basic materials company's stock worth $1,753,000 after purchasing an additional 860 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Bunge Global by 20.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,935 shares of the basic materials company's stock worth $1,396,000 after buying an additional 3,020 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Bunge Global Stock Performance

Shares of BG traded up $1.33 during mid-day trading on Tuesday, hitting $76.00. 1,185,699 shares of the company's stock were exchanged, compared to its average volume of 1,634,570. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The stock's 50-day simple moving average is $77.57 and its 200-day simple moving average is $77.47. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

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

Bunge Global Announces Dividend

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 given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.68%. Bunge Global's dividend payout ratio is 35.53%.

Analysts Set New Price Targets

BG has been the subject of several research analyst reports. Stephens reduced 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. Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Finally, Bank of America dropped their price target on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Bunge Global currently has an average rating of "Hold" and a consensus 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.