SIR Capital Management L.P. Buys New Holdings in Bunge Global SA (NYSE:BG)

SIR Capital Management L.P. purchased a new position in shares of Bunge Global SA (NYSE:BG) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,000 shares of the basic materials company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Spire Wealth Management bought a new position in shares of Bunge Global during the 4th quarter worth about $26,000. Crews Bank & Trust bought a new position in Bunge Global during the fourth quarter worth about $39,000. R Squared Ltd acquired a new stake in Bunge Global during the fourth quarter valued at approximately $45,000. Financial Perspectives Inc boosted its holdings in Bunge Global by 585.0% during the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 585 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Bunge Global by 32.3% in the 4th quarter. Allworth Financial LP now owns 794 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 194 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BG. Bank of America dropped their price objective 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. Morgan Stanley dropped their price objective 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. Barclays reduced their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Stephens decreased their price target on Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup lifted their price objective on Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.60.

Bunge Global Trading Down 2.3%

Shares of NYSE BG opened at $80.07 on Friday. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a 50-day moving average of $76.59 and a two-hundred day moving average of $78.69. The company has a market cap of $10.76 billion, a PE ratio of 9.91, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a current ratio of 2.15, a quick ratio of 1.27 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 firm had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Bunge Global’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.04 EPS. As a group, equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, May 19th. This is a positive change from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s dividend payout ratio is 34.52%.

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.