Voloridge Investment Management LLC Buys 991,607 Shares of Bunge Global SA (NYSE:BG)

Voloridge Investment Management LLC boosted its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 443.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,215,320 shares of the basic materials company's stock after acquiring an additional 991,607 shares during the quarter. Voloridge Investment Management LLC owned about 0.87% of Bunge Global worth $94,503,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BG. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Bunge Global by 3.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company's stock valued at $351,000 after buying an additional 170 shares during the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Bunge Global by 25.4% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company's stock valued at $68,000 after buying an additional 178 shares during the last quarter. DoubleLine ETF Adviser LP grew its stake in shares of 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 valued at $615,000 after buying an additional 183 shares during the last quarter. Allworth Financial LP grew its stake in shares of Bunge Global by 32.3% during 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. grew its stake in shares of Bunge Global by 0.9% during the fourth quarter. Abbot Financial Management Inc. now owns 22,967 shares of the basic materials company's stock valued at $1,786,000 after buying an additional 205 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Down 1.5%

Shares of NYSE:BG opened at $80.32 on Tuesday. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The stock has a market cap of $10.80 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The business's 50 day moving average is $76.87 and its 200 day 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.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. Bunge Global's revenue was down 13.2% compared to the same quarter last year. Sell-side analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Dividend Announcement

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 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 yield of 3.49%. Bunge Global's dividend payout ratio is currently 34.52%.

Wall Street Analysts Forecast Growth

BG has been the topic of a number of analyst reports. Bank of America cut their target price 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. Stephens cut their target price 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. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Morgan Stanley dropped their price objective 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. Finally, Barclays dropped their price objective 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.

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