Central Pacific Bank Trust Division Buys Shares of 1,000 Bunge Global SA (NYSE:BG)

Central Pacific Bank Trust Division bought a new stake in shares of Bunge Global SA (NYSE:BG) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the basic materials company’s stock, valued at approximately $102,000.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Bunge Global during the fourth quarter worth approximately $128,092,000. LSV Asset Management raised its stake in shares of Bunge Global by 86.8% during the fourth 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. Vanguard Group Inc. raised its stake in shares of Bunge Global by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Bunge Global during the first quarter worth approximately $26,817,000. Finally, Franklin Resources Inc. raised its stake in shares of Bunge Global by 320.0% during the fourth 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 currently owned by institutional investors.

Insider Activity at Bunge Global

In other news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were 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 approximately $9,086,776.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Citigroup lifted their price target 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bunge Global currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Stock Performance

NYSE:BG opened at $111.19 on Thursday. The stock has a market cap of $15.74 billion, a P/E ratio of 8.95 and a beta of 0.67. The firm’s fifty day simple moving average is $105.43 and its 200 day simple moving average is $99.99. Bunge Global SA has a twelve month low of $86.10 and a twelve month 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.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.49. The business had revenue of $13.42 billion for 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%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.26 earnings per share. As a group, research analysts predict that Bunge Global SA will post 9.03 EPS for the current year.

Bunge Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is currently 21.90%.

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.