Merit Financial Group LLC Invests $378,000 in Bunge Global SA (NYSE:BG)

Merit Financial Group LLC acquired a new position in shares of Bunge Global SA (NYSE:BG) during the first quarter, HoldingsChannel reports. The firm acquired 4,942 shares of the basic materials company’s stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BG. Yousif Capital Management LLC raised its holdings in shares of Bunge Global by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 22,546 shares of the basic materials company’s stock worth $1,753,000 after acquiring an additional 860 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bunge Global by 20.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,935 shares of the basic materials company’s stock worth $1,396,000 after acquiring an additional 3,020 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Bunge Global by 2.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,769 shares of the basic materials company’s stock worth $1,226,000 after acquiring an additional 445 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Bunge Global by 39.6% during the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock worth $1,665,000 after acquiring an additional 6,077 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in shares of Bunge Global by 7.8% during the fourth quarter. V Square Quantitative Management LLC now owns 4,707 shares of the basic materials company’s stock worth $366,000 after acquiring an additional 340 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BG. Stephens lowered their price target on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Citigroup lifted their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Bunge Global currently has an average rating of “Hold” and a consensus price target of $81.60.

Bunge Global Stock Down 0.8%

Shares of BG stock opened at $75.41 on Thursday. The firm’s fifty day moving average price is $77.61 and its two-hundred day moving average price is $77.46. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The firm has a market capitalization of $10.14 billion, a P/E ratio of 9.33, a PEG 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 announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. 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 firm posted $3.04 EPS. The company’s quarterly revenue was down 13.2% on a year-over-year basis. On average, equities analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Tuesday, February 17th. Bunge Global’s dividend payout ratio (DPR) is presently 35.53%.

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.