Peregrine Asset Advisers Inc. Purchases New Position in Bunge Global SA (NYSE:BG)

Peregrine Asset Advisers Inc. purchased a new stake in Bunge Global SA (NYSE:BG) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 36,822 shares of the basic materials company’s stock, valued at approximately $3,717,000. Bunge Global makes up about 1.8% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 17th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of BG. Vanguard Group Inc. grew its position in shares of Bunge Global by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company’s stock worth $1,989,285,000 after purchasing an additional 60,660 shares in the last quarter. Northern Trust Corp grew its position in shares of Bunge Global by 2.8% during the 3rd quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock worth $299,103,000 after purchasing an additional 75,936 shares in the last quarter. LSV Asset Management boosted its position in shares of Bunge Global by 86.8% during 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. Charles Schwab Investment Management Inc. boosted its position in shares of Bunge Global by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,345,776 shares of the basic materials company’s stock worth $145,680,000 after acquiring an additional 14,620 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Bunge Global by 55.8% during 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. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. The Goldman Sachs Group dropped their price objective on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their price objective for the company from $122.00 to $105.00 in a research note on Friday, February 9th. Citigroup increased their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird dropped their price objective on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Trading Up 1.1 %

Shares of BG traded up $1.12 during mid-day trading on Monday, reaching $102.27. 684,976 shares of the company were exchanged, compared to its average volume of 1,724,410. The business has a 50 day simple moving average of $100.39 and a two-hundred day simple moving average of $99.88. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $116.59. The stock has a market capitalization of $14.48 billion, a PE ratio of 8.23 and a beta of 0.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.96 billion. During the same quarter in the previous year, the company earned $3.26 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, analysts predict that Bunge Global SA will post 9.03 earnings per share for the current fiscal year.

Bunge Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 2nd. Shareholders of record on Monday, August 19th will be issued a dividend of $0.68 per share. This is an increase from Bunge Global’s previous quarterly dividend of $0.66. This represents a $2.72 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Monday, August 19th. Bunge Global’s dividend payout ratio (DPR) is presently 21.34%.

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.