Woodline Partners LP Buys Shares of 8,385 Bunge Global SA (NYSE:BG)

Woodline Partners LP bought a new stake in Bunge Global SA (NYSE:BG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,385 shares of the basic materials company's stock, valued at approximately $652,000.

A number of other large investors have also recently added to or reduced their stakes in BG. Pacer Advisors Inc. increased its holdings in shares of Bunge Global by 13,459.9% in the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company's stock worth $229,894,000 after acquiring an additional 2,934,656 shares during the period. Norges Bank acquired a new stake in shares of Bunge Global in the 4th quarter worth about $148,857,000. Invesco Ltd. increased its holdings in shares of Bunge Global by 28.6% in the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after acquiring an additional 713,561 shares during the period. FMR LLC increased its holdings in shares of Bunge Global by 25.3% in the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after acquiring an additional 699,889 shares during the period. Finally, Man Group plc acquired a new stake in shares of Bunge Global in the 4th quarter worth about $50,561,000. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on BG. Citigroup raised their target price on shares of 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 lowered their target price 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. Barclays lowered their target price 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. Bank of America lowered their target price 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. Finally, Stephens lowered 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 note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Performance

BG stock traded down $1.01 on Friday, reaching $78.21. 2,864,120 shares of the company were exchanged, compared to its average volume of 1,633,194. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92. The stock's fifty day moving average price is $77.75 and its 200 day moving average price is $78.13. The firm has a market capitalization of $10.51 billion, a PE ratio of 9.68, a PEG ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27.

Bunge Global (NYSE:BG - Get Free Report) last issued its 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. The company had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 EPS. On average, research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.58%. Bunge Global's dividend payout ratio is presently 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.