Bunge Global SA (NYSE:BG) Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC lessened its holdings in Bunge Global SA (NYSE:BG) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 588 shares of the basic materials company’s stock after selling 146 shares during the quarter. CoreCap Advisors LLC’s holdings in Bunge Global were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Bunge Global by 3.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 170 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in Bunge Global by 25.4% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 178 shares during the period. DoubleLine ETF Adviser LP boosted its holdings in Bunge Global by 2.4% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 183 shares during the period. Allworth Financial LP boosted its holdings in Bunge Global by 32.3% in the fourth quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 194 shares during the period. Finally, Abbot Financial Management Inc. boosted its holdings 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 acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stephens reduced their price target on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Citigroup boosted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Barclays reduced their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bunge Global currently has a consensus rating of “Hold” and a consensus target price of $81.60.

Bunge Global Stock Performance

BG stock opened at $82.13 on Thursday. The company has a market capitalization of $11.04 billion, a P/E ratio of 10.16, a PEG ratio of 2.66 and a beta of 0.68. The company has a 50-day simple moving average of $76.51 and a 200 day simple moving average of $78.76. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. 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) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 earnings per share. Sell-side analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.80 annualized dividend and a yield of 3.41%. This is an increase from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s dividend payout ratio is presently 34.52%.

Bunge Global 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.