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

Bunge Global SA (NYSE:BG) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 5,740,000 shares, an increase of 5.5% from the May 15th total of 5,440,000 shares. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is currently 3.8 days. Approximately 4.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup upped their target price on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.00.

Insider Activity

In other news, insider Christos Dimopoulos sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the sale, the insider now directly owns 87,999 shares in the company, valued at $9,086,776.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Bunge Global

A number of institutional investors have recently made changes to their positions in the stock. RFG Advisory LLC lifted its stake in Bunge Global by 3.9% in the first quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 96 shares during the period. C M Bidwell & Associates Ltd. lifted its stake in Bunge Global by 4.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,393 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 99 shares during the period. Evergreen Capital Management LLC lifted its stake in Bunge Global by 0.3% in the third quarter. Evergreen Capital Management LLC now owns 32,189 shares of the basic materials company’s stock worth $3,484,000 after acquiring an additional 108 shares during the period. CWM LLC lifted its stake in Bunge Global by 4.1% in the first quarter. CWM LLC now owns 2,778 shares of the basic materials company’s stock worth $285,000 after acquiring an additional 110 shares during the period. Finally, Czech National Bank lifted its stake in Bunge Global by 0.5% in the first quarter. Czech National Bank now owns 25,563 shares of the basic materials company’s stock worth $2,621,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

NYSE:BG opened at $102.44 on Thursday. The firm has a market cap of $14.51 billion, a PE ratio of 8.25 and a beta of 0.67. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The business has a 50 day moving average price of $104.63 and a 200-day moving average price of $99.57.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. The firm had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 earnings per share. Equities research analysts predict that Bunge Global will post 9.28 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is presently 21.90%.

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.