Machina Capital S.A.S. Purchases New Position in Bunge Global SA (NYSE:BG)

Machina Capital S.A.S. acquired a new position in shares of Bunge Global SA (NYSE:BG) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 3,940 shares of the basic materials company’s stock, valued at approximately $398,000.

Several other large investors also recently bought and sold shares of the company. Maryland State Retirement & Pension System acquired a new position in Bunge Global during the fourth quarter worth $1,151,000. Private Advisor Group LLC lifted its stake in Bunge Global by 97.8% during the fourth quarter. Private Advisor Group LLC now owns 5,033 shares of the basic materials company’s stock worth $508,000 after purchasing an additional 2,489 shares during the last quarter. Metis Global Partners LLC lifted its stake in Bunge Global by 6.0% during the fourth quarter. Metis Global Partners LLC now owns 16,943 shares of the basic materials company’s stock worth $1,710,000 after purchasing an additional 953 shares during the last quarter. Sapient Capital LLC purchased a new stake in Bunge Global during the fourth quarter worth approximately $1,448,000. Finally, LSV Asset Management lifted its stake in Bunge Global by 86.8% in the fourth quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock valued at $144,435,000 after buying an additional 664,632 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BG. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and decreased their price target for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Citigroup raised their price target on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Wolfe Research lowered Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. BMO Capital Markets dropped their target price on Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, The Goldman Sachs Group dropped their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Bunge Global Stock Performance

Bunge Global stock traded up $1.12 during trading hours on Monday, hitting $102.27. The stock had a trading volume of 684,976 shares, compared to its average volume of 1,724,410. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $100.39 and a two-hundred day moving average of $99.88. The company has a market cap of $14.48 billion, a PE ratio of 8.23 and a beta of 0.65.

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, topping analysts’ consensus estimates of $2.55 by $0.49. The business had revenue of $13.42 billion for 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%. Bunge Global’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.26 EPS. On average, equities research analysts anticipate that Bunge Global SA will post 9.03 EPS for the current fiscal year.

Bunge Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Investors of record on Monday, August 19th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.66%. The ex-dividend date is Monday, August 19th. This is an increase from Bunge Global’s previous quarterly dividend of $0.66. Bunge Global’s dividend payout ratio (DPR) is presently 21.34%.

About Bunge Global

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.