Fifth Third Bancorp Purchases 1,659 Shares of Bunge Global SA (NYSE:BG)

Fifth Third Bancorp grew its stake in shares of Bunge Global SA (NYSE:BG) by 60.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,410 shares of the basic materials company’s stock after buying an additional 1,659 shares during the quarter. Fifth Third Bancorp’s holdings in Bunge Global were worth $337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC raised its position in shares of Bunge Global by 25.3% during the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock valued at $269,488,000 after buying an additional 699,889 shares in the last quarter. Geode Capital Management LLC raised its position in Bunge Global by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company’s stock worth $268,205,000 after purchasing an additional 34,890 shares during the period. Invesco Ltd. raised its position in Bunge Global by 28.6% in the 4th quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after purchasing an additional 713,561 shares during the period. Dimensional Fund Advisors LP raised its position in Bunge Global by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company’s stock worth $193,379,000 after purchasing an additional 183,701 shares during the period. Finally, Amundi raised its position in Bunge Global by 24.9% in the 4th quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock worth $190,476,000 after purchasing an additional 490,153 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of Bunge Global stock opened at $85.64 on Thursday. The firm has a market cap of $11.51 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 4.25 and a beta of 0.68. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $114.92. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $78.75 and its two-hundred day simple moving average is $77.25.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.54. The business had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The company’s revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. As a group, equities analysts expect that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.27%. Bunge Global’s dividend payout ratio (DPR) is presently 35.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BG. Citigroup lifted their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Stephens decreased their target price on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $81.60.

Bunge Global 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.