Peregrine Asset Advisers Inc. Purchases Shares of 36,822 Bunge Global SA (NYSE:BG)

Peregrine Asset Advisers Inc. purchased a new stake in shares of Bunge Global SA (NYSE:BG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 36,822 shares of the basic materials company's stock, valued at approximately $3,717,000. Bunge Global makes up approximately 1.8% of Peregrine Asset Advisers Inc.'s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BG. Nordea Investment Management AB boosted its stake in shares of Bunge Global by 69.4% during the 4th quarter. Nordea Investment Management AB now owns 75,691 shares of the basic materials company's stock worth $7,621,000 after acquiring an additional 30,999 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Bunge Global by 1.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 9,305 shares of the basic materials company's stock worth $939,000 after acquiring an additional 165 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Bunge Global by 423.6% during the 4th quarter. SG Americas Securities LLC now owns 52,247 shares of the basic materials company's stock worth $5,274,000 after acquiring an additional 42,268 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Bunge Global in the third quarter valued at $2,706,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Bunge Global by 53.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 91,657 shares of the basic materials company's stock valued at $9,314,000 after purchasing an additional 32,020 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BG. BMO Capital Markets reduced their target price on Bunge Global from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, February 8th. StockNews.com lowered Bunge Global from a "buy" rating to a "hold" rating in a report on Monday, February 26th. Robert W. Baird reduced their target price on Bunge Global from $125.00 to $108.00 and set a "neutral" rating for the company in a report on Tuesday, January 23rd. Roth Mkm cut their price objective on Bunge Global from $161.00 to $138.00 and set a "buy" rating for the company in a report on Monday, February 5th. Finally, Wolfe Research lowered Bunge Global from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.00.

Bunge Global Stock Up 1.1 %

NYSE BG traded up $1.12 during trading on Monday, hitting $102.27. 684,976 shares of the company traded hands, compared to its average volume of 1,724,410. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The business has a fifty day simple moving average of $100.39 and a 200 day simple moving average of $99.88. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $14.48 billion, a P/E ratio of 8.23 and a beta of 0.65.

Bunge Global (NYSE:BG - Get Free Report) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period last year, the company earned $3.26 earnings per share. The business's revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Bunge Global SA will post 9.03 EPS for the current year.

Bunge Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 2nd. Stockholders of record on Monday, August 19th will be given a $0.68 dividend. This is an increase from Bunge Global's previous quarterly dividend of $0.66. This represents a $2.72 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, August 19th. Bunge Global's dividend payout ratio (DPR) is currently 21.34%.

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.

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.