M&T Bank Corp Buys 312 Shares of Bunge Global SA (NYSE:BG)

M&T Bank Corp raised its holdings in shares of Bunge Global SA (NYSE:BG) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,619 shares of the basic materials company’s stock after acquiring an additional 312 shares during the quarter. M&T Bank Corp’s holdings in Bunge Global were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC increased its holdings in shares of 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 purchasing an additional 699,889 shares during the period. Geode Capital Management LLC grew its position in Bunge Global by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company’s stock worth $268,205,000 after acquiring an additional 34,890 shares in the last quarter. Invesco Ltd. boosted its position in Bunge Global by 28.6% during the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company’s stock valued at $249,349,000 after buying an additional 713,561 shares during the period. Dimensional Fund Advisors LP boosted its position in Bunge Global by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company’s stock valued at $193,379,000 after buying an additional 183,701 shares during the period. Finally, Northern Trust Corp boosted its position in Bunge Global by 5.0% during the fourth quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company’s stock valued at $184,167,000 after buying an additional 112,333 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of NYSE BG opened at $73.02 on Thursday. The company has a 50 day simple moving average of $79.09 and a two-hundred day simple moving average of $76.82. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $114.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 3.68 and a beta of 0.67.

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

Bunge Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s dividend payout ratio is currently 35.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BG. Stephens lowered their price objective on shares of 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 increased their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $81.60.

About Bunge Global

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.