Ritholtz Wealth Management Purchases 644 Shares of Bunge Global SA (NYSE:BG)

Ritholtz Wealth Management lifted its position in Bunge Global SA (NYSE:BG) by 19.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,989 shares of the basic materials company’s stock after purchasing an additional 644 shares during the period. Ritholtz Wealth Management’s holdings in Bunge Global were worth $305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BG. Norges Bank bought a new position in shares of Bunge Global in the fourth quarter worth approximately $148,857,000. Voloridge Investment Management LLC lifted its stake in Bunge Global by 443.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company’s stock worth $94,503,000 after acquiring an additional 991,607 shares during the period. Invesco Ltd. lifted its stake in Bunge Global by 28.6% in the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock worth $249,349,000 after acquiring an additional 713,561 shares during the period. FMR LLC lifted its stake in Bunge Global by 25.3% in the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company’s stock worth $269,488,000 after acquiring an additional 699,889 shares during the period. Finally, Man Group plc purchased a new stake in Bunge Global in the fourth quarter worth $50,561,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG stock opened at $85.40 on Friday. 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 firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 4.24 and a beta of 0.68. The stock has a fifty day moving average of $79.18 and a 200 day moving average of $77.21. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92.

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

Bunge Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s dividend payout ratio is currently 35.53%.

Analysts Set New Price Targets

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