Bank of Nova Scotia Has $305,000 Position in Bunge Global SA (NYSE:BG)

Bank of Nova Scotia cut its stake in shares of Bunge Global SA (NYSE:BGFree Report) by 78.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,024 shares of the basic materials company’s stock after selling 10,741 shares during the quarter. Bank of Nova Scotia’s holdings in Bunge Global were worth $305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BG. Norges Bank acquired a new position in Bunge Global during the 4th quarter worth about $128,092,000. LSV Asset Management raised its position in shares of 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. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Bunge Global in the 3rd quarter worth about $30,032,000. Royal Bank of Canada raised its position in shares of 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. Finally, Franklin Resources Inc. raised its position in shares of Bunge Global by 320.0% in the 4th quarter. Franklin Resources Inc. now owns 244,648 shares of the basic materials company’s stock worth $24,708,000 after acquiring an additional 186,395 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

BG stock opened at $104.13 on Monday. The firm has a market cap of $14.74 billion, a PE ratio of 8.38 and a beta of 0.67. 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 50 day moving average of $104.78 and a 200-day moving average of $99.86. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59.

Bunge Global (NYSE:BGGet Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.26 earnings per share. As a group, sell-side analysts expect that Bunge Global SA will post 9.28 earnings per share for the current year.

Bunge Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given 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 dividend yield of 2.61%. Bunge Global’s dividend payout ratio (DPR) is presently 21.90%.

Insider Buying and Selling

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the sale, the insider now owns 87,999 shares in the company, valued at $9,086,776.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BG shares. Citigroup lifted their price objective on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lowered their price objective on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Check Out Our Latest Stock Report on BG

About Bunge Global

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bunge Global (NYSE:BG)

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