Bunge Global (NYSE:BG) Shares Gap Down After Earnings Miss

Bunge Global SA (NYSE:BG)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $114.56, but opened at $105.24. Bunge Global shares last traded at $105.18, with a volume of 255,163 shares trading hands.

The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.67%. The firm’s revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the company earned $3.72 earnings per share.

Bunge Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s dividend payout ratio is currently 21.90%.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $114.00 in a research note on Thursday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.11.

Insider Buying and Selling at Bunge Global

In other news, insider Christos Dimopoulos sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total value of $2,065,200.00. Following the sale, the insider now directly owns 87,999 shares in the company, valued at approximately $9,086,776.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Bunge Global

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in Bunge Global by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 102 shares during the last quarter. NewSquare Capital LLC acquired a new position in Bunge Global during the 4th quarter worth about $37,000. Atlas Capital Advisors LLC raised its stake in shares of Bunge Global by 261.3% in the second quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 277 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Bunge Global during the first quarter worth approximately $46,000. Finally, Versant Capital Management Inc bought a new stake in shares of Bunge Global during the second quarter valued at approximately $48,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Down 4.5 %

The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $107.87 and its two-hundred day moving average is $101.31. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 8.30 and a beta of 0.67.

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.