Bunge Global SA (NYSE:BG) Sees Significant Increase in Short Interest

Bunge Global SA (NYSE:BG - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 4,390,000 shares, a growth of 22.3% from the April 30th total of 3,590,000 shares. Currently, 3.3% of the company's shares are short sold. Based on an average trading volume of 1,820,000 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BG shares. Morgan Stanley decreased their price target on 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. Bank of America decreased their price target on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Citigroup raised their price target on Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Barclays decreased their target price on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Stephens decreased their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bunge Global presently has a consensus rating of "Hold" and a consensus target price of $81.60.

Bunge Global Stock Down 1.0%

NYSE BG traded down $0.77 on Thursday, reaching $73.82. 1,540,217 shares of the stock traded hands, compared to its average volume of 1,633,902. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92. The company has a fifty day moving average price of $77.80 and a 200-day moving average price of $77.94. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 9.14, a PEG 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.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results 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 business had revenue of $11.64 billion during 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 was down 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. As a group, research analysts forecast that Bunge Global will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The company 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 $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a yield of 3.79%. Bunge Global's dividend payout ratio is presently 35.53%.

Hedge Funds Weigh In On Bunge Global

A number of large investors have recently added to or reduced their stakes in BG. Norges Bank bought a new position in Bunge Global in the fourth quarter worth about $148,857,000. AustralianSuper Pty Ltd purchased a new position in Bunge Global during the 1st quarter worth $92,552,000. Voloridge Investment Management LLC grew its stake in Bunge Global by 443.2% during the 4th quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock worth $94,503,000 after buying an additional 991,607 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bunge Global by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock worth $255,756,000 after buying an additional 859,733 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Bunge Global by 28.6% during the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock worth $249,349,000 after buying an additional 713,561 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

About Bunge Global

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.