Bunge Global SA (NYSE:BG – Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,750,000 shares, a decline of 6.9% from the October 15th total of 4,030,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is currently 3.4 days.
Institutional Investors Weigh In On Bunge Global
Large investors have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Bunge Global by 77.5% in the 1st quarter. State Street Corp now owns 6,814,463 shares of the basic materials company’s stock valued at $650,918,000 after purchasing an additional 2,975,929 shares during the period. Norges Bank acquired a new stake in Bunge Global during the 4th quarter worth approximately $186,143,000. Geode Capital Management LLC lifted its position in Bunge Global by 59.8% during the 1st quarter. Geode Capital Management LLC now owns 3,100,158 shares of the basic materials company’s stock worth $295,462,000 after acquiring an additional 1,159,939 shares during the period. Vanguard Group Inc. lifted its position in Bunge Global by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after acquiring an additional 696,806 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Bunge Global during the 1st quarter worth approximately $74,642,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on BG shares. StockNews.com started coverage on Bunge Global in a research note on Wednesday, November 8th. They set a “buy” rating on the stock. HSBC started coverage on Bunge Global in a research note on Friday, September 15th. They set a “hold” rating and a $122.00 price objective on the stock. Morgan Stanley boosted their price objective on Bunge Global from $105.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. UBS Group boosted their price objective on Bunge Global from $133.00 to $141.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Barclays upped their price target on Bunge Global from $121.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.14.
Bunge Global Trading Up 0.8 %
Shares of BG stock traded up $0.87 on Friday, hitting $106.80. The stock had a trading volume of 730,904 shares, compared to its average volume of 1,386,896. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.02 and a quick ratio of 1.10. The firm has a market capitalization of $15.52 billion, a P/E ratio of 8.20 and a beta of 0.65. Bunge Global has a 1 year low of $87.86 and a 1 year high of $116.59. The company’s 50 day moving average price is $106.84 and its 200-day moving average price is $102.89.
Bunge Global (NYSE:BG – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.49. The firm had revenue of $14.23 billion for the quarter, compared to the consensus estimate of $15.33 billion. Bunge Global had a return on equity of 18.61% and a net margin of 3.20%. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.45 EPS. Analysts anticipate that Bunge Global will post 12.8 earnings per share for the current year.
Bunge Global Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be issued a dividend of $0.6625 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.65 annualized dividend and a yield of 2.48%. Bunge Global’s dividend payout ratio (DPR) is 20.51%.
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.
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