Kingsview Wealth Management LLC Buys New Shares in Bunge Global SA (NYSE:BG)

Kingsview Wealth Management LLC purchased a new stake in Bunge Global SA (NYSE:BG) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 120,131 shares of the basic materials company’s stock, valued at approximately $9,180,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its position in Bunge Global by 24.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 999 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 199 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Bunge Global by 12.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company’s stock valued at $95,000 after buying an additional 135 shares during the period. Signaturefd LLC lifted its stake in shares of Bunge Global by 79.6% in the first quarter. Signaturefd LLC now owns 1,363 shares of the basic materials company’s stock worth $104,000 after buying an additional 604 shares in the last quarter. CWM LLC lifted its position in Bunge Global by 385.9% during the first quarter. CWM LLC now owns 9,300 shares of the basic materials company’s stock valued at $711,000 after purchasing an additional 7,386 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Bunge Global by 2.9% in the first quarter. Stephens Inc. AR now owns 133,644 shares of the basic materials company’s stock worth $10,213,000 after purchasing an additional 3,744 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Stephens lowered their target price 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 stock a “neutral” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.60.

Bunge Global Stock Up 0.2%

BG opened at $73.14 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 1.12. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 3.62 and a beta of 0.67. The business has a 50-day moving average of $79.03 and a two-hundred day moving average of $76.79. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92.

Bunge Global (NYSE:BG) last announced 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 return on equity of 9.98% and a net margin of 2.13%. The company had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same period in the prior year, the company posted $3.04 EPS. Bunge Global’s quarterly revenue was down 13.2% on a year-over-year basis. On average, research analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 3.83%. Bunge Global’s dividend payout ratio (DPR) is 35.53%.

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.