Gulf International Bank UK Ltd Acquires New Holdings in Bunge Global SA (NYSE:BG)

Gulf International Bank UK Ltd purchased a new position in Bunge Global SA (NYSE:BG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,976 shares of the basic materials company’s stock, valued at approximately $1,330,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BG. Norges Bank purchased a new position in Bunge Global during the fourth quarter valued at $128,092,000. LSV Asset Management grew its stake in shares of Bunge Global by 86.8% in the 4th quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock worth $144,435,000 after buying an additional 664,632 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bunge Global by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after buying an additional 578,065 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Bunge Global in the 3rd quarter worth $30,032,000. Finally, Royal Bank of Canada grew its stake in shares of Bunge Global by 55.8% in the 3rd quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock worth $66,402,000 after buying an additional 219,819 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Trading Up 2.4 %

NYSE BG opened at $105.87 on Friday. The company has a fifty day simple moving average of $104.51 and a two-hundred day simple moving average of $99.56. The stock has a market cap of $14.99 billion, a P/E ratio of 8.52 and a beta of 0.67. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.55 by $0.49. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm’s revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the business earned $3.26 earnings per share. On average, analysts forecast that Bunge Global SA will post 9.28 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 annualized dividend and a dividend yield of 2.57%. Bunge Global’s dividend payout ratio (DPR) is 21.90%.

Insider Buying and Selling

In related news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the transaction, the insider now directly owns 87,999 shares in the company, valued at $9,086,776.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Citigroup increased their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Bunge Global currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.