Bunge Global (NYSE:BG) Lowered to Neutral at Citigroup

Citigroup lowered shares of Bunge Global (NYSE:BG) from a buy rating to a neutral rating in a report published on Thursday morning, Marketbeat Ratings reports. They currently have $114.00 target price on the basic materials company’s stock, down from their prior target price of $125.00.

Bunge Global Price Performance

BG opened at $98.42 on Thursday. The firm has a market capitalization of $13.94 billion, a PE ratio of 7.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 1.10. The business’s 50-day moving average is $107.76 and its two-hundred day moving average is $101.43. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The firm had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the firm earned $3.72 EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. Research analysts anticipate that Bunge Global will post 9.4 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

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

Insider Activity at Bunge Global

In other news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 $9,086,776.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bunge Global

Large investors have recently made changes to their positions in the stock. Mather Group LLC. raised its position in Bunge Global by 12.4% during the second quarter. Mather Group LLC. now owns 843 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 93 shares during the period. RFG Advisory LLC raised its position in shares of Bunge Global by 3.9% during the 1st quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company’s stock worth $265,000 after purchasing an additional 96 shares during the last quarter. Blue Trust Inc. lifted its stake 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 buying an additional 102 shares in the last quarter. CWM LLC increased its stake in Bunge Global by 4.1% during the 1st quarter. CWM LLC now owns 2,778 shares of the basic materials company’s stock worth $285,000 after buying an additional 110 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Bunge Global by 0.5% during the first quarter. Czech National Bank now owns 25,563 shares of the basic materials company’s stock valued at $2,621,000 after acquiring an additional 116 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.