Bunge Global SA (NYSE:BG) to Issue $0.70 Quarterly Dividend

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Monday, May 19th, Wall Street Journal reports. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.70 per share by the basic materials company on Tuesday, March 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Tuesday, February 17th.

Bunge Global has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bunge Global to earn $8.98 per share next year, which means the company should continue to be able to cover its $2.65 annual dividend with an expected future payout ratio of 29.5%.

Bunge Global Stock Down 1.5%

NYSE BG opened at $80.32 on Tuesday. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92. The company’s 50 day simple moving average is $76.87 and its 200 day simple moving average is $78.55. The company has a market capitalization of $10.80 billion, a P/E ratio of 9.94, a PEG ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27.

Bunge Global (NYSE:BG) last announced its quarterly earnings data 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. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The company had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. During the same quarter last year, the company earned $3.04 EPS. The company’s quarterly revenue was down 13.2% on a year-over-year basis. Equities research analysts expect that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bunge Global stock. United Services Automobile Association acquired a new stake in Bunge Global SA (NYSE:BG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,912 shares of the basic materials company’s stock, valued at approximately $223,000. 86.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of 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 lowered their target price 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. Barclays cut their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Stephens lowered their price objective 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. Finally, Citigroup upped their target price 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $81.60.

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.