Fruth Investment Management Acquires New Position in Bunge Global SA (NYSE:BG)

Fruth Investment Management bought a new position in shares of Bunge Global SA (NYSE:BG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,066 shares of the basic materials company’s stock, valued at approximately $2,877,000.

Other hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC acquired a new stake in shares of Bunge Global in the 4th quarter valued at $37,000. Rise Advisors LLC raised its holdings in shares of Bunge Global by 40.6% in the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 117 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Bunge Global in the 1st quarter valued at $46,000. Ramirez Asset Management Inc. purchased a new position in shares of Bunge Global in the 3rd quarter valued at $54,000. Finally, GAMMA Investing LLC purchased a new position in shares of Bunge Global in the 4th quarter valued at $62,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup increased their target price on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and an average target price of $121.00.

Insider Activity at Bunge Global

In related news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total value of $2,065,200.00. Following the completion of the sale, the insider now owns 87,999 shares in the company, valued at $9,086,776.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Bunge Global Stock Performance

Bunge Global stock traded down $0.99 during midday trading on Thursday, hitting $109.39. 745,792 shares of the company’s stock were exchanged, compared to its average volume of 1,305,536. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 8.81 and a beta of 0.67. The firm’s 50 day simple moving average is $104.70 and its 200 day simple moving average is $99.74.

Bunge Global (NYSE:BG) last issued its 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 the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. Equities research analysts predict that Bunge Global SA will post 9.03 EPS for the current year.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is 21.90%.

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.