Short Interest in Bunge Global SA (NYSE:BG) Rises By 5.5%

Bunge Global SA (NYSE:BG) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 5,740,000 shares, a growth of 5.5% from the May 15th total of 5,440,000 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BG. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Citigroup lifted their price objective on Bunge Global from $117.00 to $122.00 and gave the stock 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 company. According to MarketBeat, Bunge Global currently has an average rating of “Moderate Buy” and an average target price of $121.00.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the business’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 completion of the transaction, the insider now directly owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its position in shares of Bunge Global by 273.1% in the first quarter. Cetera Investment Advisers now owns 18,699 shares of the basic materials company’s stock worth $1,917,000 after buying an additional 13,687 shares during the period. Swedbank AB acquired a new stake in Bunge Global in the first quarter valued at approximately $17,027,000. iA Global Asset Management Inc. purchased a new stake in shares of Bunge Global during the first quarter valued at approximately $1,189,000. LBP AM SA acquired a new position in shares of Bunge Global during the first quarter worth $603,000. Finally, Alethea Capital Management LLC acquired a new stake in Bunge Global during the 1st quarter valued at $482,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

Shares of NYSE:BG traded down $0.90 during trading on Tuesday, hitting $102.08. 561,638 shares of the stock were exchanged, compared to its average volume of 1,598,056. The company has a fifty day moving average price of $104.72 and a two-hundred day moving average price of $99.62. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market cap of $14.45 billion, a PE ratio of 8.21 and a beta of 0.67. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.26 EPS. On average, analysts forecast that Bunge Global will post 9.28 EPS for the current year.

Bunge Global Announces Dividend

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 issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is 21.90%.

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.