Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Bunge Global SA (NYSE:BG)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Bunge Global SA (NYSE:BG) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,581 shares of the basic materials company’s stock after purchasing an additional 1,646 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bunge Global were worth $1,497,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BG. Norges Bank purchased a new position in shares of Bunge Global in the fourth quarter worth about $148,857,000. Voloridge Investment Management LLC increased its stake in shares of Bunge Global by 443.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company’s stock worth $94,503,000 after purchasing an additional 991,607 shares in the last quarter. Invesco Ltd. increased its stake in shares of Bunge Global by 28.6% in the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after purchasing an additional 713,561 shares in the last quarter. FMR LLC boosted its position in shares of Bunge Global by 25.3% in the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock valued at $269,488,000 after acquiring an additional 699,889 shares during the period. Finally, Man Group plc bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $50,561,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Stephens cut their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $81.60.

Bunge Global Trading Down 3.7%

Shares of Bunge Global stock opened at $78.37 on Friday. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The firm has a market cap of $10.53 billion, a PE ratio of 9.95, a PEG ratio of 3.89 and a beta of 0.67. 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 company has a 50 day simple moving average of $79.64 and a two-hundred day simple moving average of $77.01.

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 the consensus estimate of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The business had revenue of $11.64 billion during the quarter, compared to analyst estimates of $13.18 billion. During the same period in the previous year, the business posted $3.04 earnings per share. Bunge Global’s revenue for the quarter was down 13.2% on a year-over-year basis. Analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.57%. Bunge Global’s payout ratio is presently 35.53%.

Bunge Global 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.