Rockland Trust Co. Makes New Investment in Bunge Global SA (NYSE:BG)

Rockland Trust Co. bought a new stake in shares of Bunge Global SA (NYSE:BG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,355 shares of the basic materials company’s stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in BG. Norges Bank purchased a new position in shares of Bunge Global during the 4th quarter valued at approximately $128,092,000. LSV Asset Management increased its holdings in Bunge Global by 86.8% in the 4th quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock worth $144,435,000 after acquiring an additional 664,632 shares in the last quarter. Vanguard Group Inc. increased its holdings in Bunge Global by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Bunge Global in the 3rd quarter worth $30,032,000. Finally, Royal Bank of Canada increased its holdings in Bunge Global by 55.8% in the 3rd quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock worth $66,402,000 after acquiring an additional 219,819 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares of the company’s stock, valued at approximately $9,086,776.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Bunge Global Price Performance

BG traded up $2.53 on Friday, hitting $105.87. 4,205,704 shares of the company’s stock were exchanged, compared to its average volume of 1,191,400. 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 current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $104.51 and a 200-day moving average price of $99.60. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 8.52 and a beta of 0.67.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The company’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.26 EPS. As a group, equities analysts anticipate that Bunge Global SA will post 9.28 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 annualized dividend and a dividend yield of 2.57%. Bunge Global’s payout ratio is 21.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.