Bunge Global (NYSE:BG) Shares Gap Down on Disappointing Earnings

Shares of Bunge Global SA (NYSE:BG) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $114.56, but opened at $105.24. Bunge Global shares last traded at $105.18, with a volume of 255,163 shares traded.

The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.67%. The firm had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the business posted $3.72 EPS. The company’s revenue was down 12.0% on a year-over-year basis.

Bunge Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a yield of 2.76%. Bunge Global’s dividend payout ratio (DPR) is presently 21.90%.

Wall Street Analyst Weigh In

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $114.00 in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and an average price target of $120.11.

Insider Activity at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total value of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Institutional Trading of Bunge Global

Several hedge funds have recently made changes to their positions in BG. Blue Trust Inc. raised its stake in shares of Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 102 shares during the period. NewSquare Capital LLC bought a new stake in shares of Bunge Global during the 4th quarter valued at $37,000. Atlas Capital Advisors LLC raised its stake in shares of Bunge Global by 261.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares during the period. Riverview Trust Co bought a new stake in shares of Bunge Global during the 1st quarter valued at $46,000. Finally, Versant Capital Management Inc bought a new stake in shares of Bunge Global during the 2nd quarter valued at $48,000. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Stock Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The company has a market capitalization of $13.94 billion, a P/E ratio of 8.30 and a beta of 0.67. The business has a 50 day moving average of $107.87 and a 200-day moving average of $101.31.

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.