Millennium Management LLC Has $74.17 Million Stake in Bunge Global SA (NYSE:BG)

Millennium Management LLC increased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 953,831 shares of the basic materials company's stock after purchasing an additional 33,608 shares during the period. Millennium Management LLC owned 0.68% of Bunge Global worth $74,170,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake 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 purchasing an additional 2,934,656 shares during the last quarter. Norges Bank bought a new stake in shares of Bunge Global during the 4th quarter worth $148,857,000. Invesco Ltd. grew 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 last quarter. FMR LLC lifted its holdings in shares of 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, Amundi boosted its holdings in shares of Bunge Global by 24.9% in the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company's stock worth $190,476,000 after buying an additional 490,153 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

BG traded down $1.22 during midday trading on Monday, hitting $80.32. The company had a trading volume of 1,659,390 shares, compared to its average volume of 1,610,820. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $114.92. The company has a market capitalization of $10.80 billion, a PE ratio of 9.94, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm's 50-day simple moving average is $76.73 and its 200-day simple moving average is $78.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The company had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $13.18 billion. During the same period in the prior year, the company posted $3.04 EPS. The company's revenue was down 13.2% compared to the same quarter last year. Equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is 34.52%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. 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 report on Tuesday, February 11th. 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. Citigroup boosted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Bank of America decreased 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 report on Tuesday, February 11th. Finally, Barclays cut their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.