Healthcare of Ontario Pension Plan Trust Fund Raises Stock Position in Bunge Global SA (NYSE:BG)

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Bunge Global SA (NYSE:BG) by 14.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,850 shares of the basic materials company’s stock after purchasing an additional 5,850 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bunge Global were worth $4,701,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BG. Seven Eight Capital LP boosted its holdings in Bunge Global by 175.9% in the 1st quarter. Seven Eight Capital LP now owns 66,509 shares of the basic materials company’s stock worth $6,819,000 after buying an additional 42,407 shares during the last quarter. Covestor Ltd lifted its position in shares of Bunge Global by 69.9% in the first quarter. Covestor Ltd now owns 1,938 shares of the basic materials company’s stock valued at $199,000 after acquiring an additional 797 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Bunge Global in the first quarter worth approximately $241,000. Edgestream Partners L.P. increased its position in shares of Bunge Global by 7.5% during the first quarter. Edgestream Partners L.P. now owns 25,111 shares of the basic materials company’s stock worth $2,574,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Bunge Global by 4.0% in the 1st quarter. Acadian Asset Management LLC now owns 702,095 shares of the basic materials company’s stock valued at $71,965,000 after purchasing an additional 27,235 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Activity

In related news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 87,999 shares in the company, valued at $9,086,776.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Bunge Global Stock Up 0.8 %

Shares of NYSE:BG opened at $112.95 on Friday. Bunge Global SA has a 52-week low of $86.10 and a 52-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 business has a fifty day moving average of $107.14 and a two-hundred day moving average of $100.83. The stock has a market cap of $15.99 billion, a P/E ratio of 9.09 and a beta of 0.67.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion during 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%. Bunge Global’s revenue was down 12.5% compared to the same quarter last year. During the same period last year, the business earned $3.26 earnings per share. On average, research analysts expect that Bunge Global SA will post 9.2 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 issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. Bunge Global’s dividend payout ratio is currently 21.90%.

Analysts Set New Price Targets

Separately, Citigroup lifted their target price on shares of Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.