OMERS ADMINISTRATION Corp Purchases 5,928 Shares of Bunge Global SA $BG

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Bunge Global SA by 33.6% during the first quarter, owning 23,573 shares worth approximately $1.8 million after additional purchases.
• Analysts have a generally positive outlook for Bunge Global, with JPMorgan Chase & Co. initiating coverage with an "overweight" rating and a target price of $95, while other firms have also adjusted their price targets.
• Bunge Global reported $1.31 earnings per share for the last quarter, exceeding estimates, but saw a 3.6% year-over-year revenue decline compared to the prior year.

OMERS ADMINISTRATION Corp increased its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 33.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,573 shares of the basic materials company's stock after purchasing an additional 5,928 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Bunge Global were worth $1,801,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. AustralianSuper Pty Ltd bought a new position in Bunge Global in the first quarter valued at approximately $92,552,000. Voloridge Investment Management LLC boosted its stake in Bunge Global by 443.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock valued at $94,503,000 after acquiring an additional 991,607 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bunge Global by 34.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock valued at $255,756,000 after acquiring an additional 859,733 shares during the last quarter. Man Group plc bought a new position in Bunge Global in the fourth quarter valued at approximately $50,561,000. Finally, Nuveen LLC bought a new position in Bunge Global in the first quarter valued at approximately $40,963,000. 86.23% of the stock is owned by institutional investors.

Insider Transactions at Bunge Global

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the purchase, the director owned 7,164 shares of the company's stock, valued at approximately $585,513.72. This represents a 231.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stephens reduced their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. assumed coverage on shares of Bunge Global in a report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Bunge Global currently has an average rating of "Moderate Buy" and a consensus target price of $85.33.

Bunge Global Stock Down 0.0%

BG stock traded down $0.02 during midday trading on Thursday, hitting $81.21. The company's stock had a trading volume of 827,938 shares, compared to its average volume of 1,849,194. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $101.51. The company's fifty day moving average price is $79.87 and its 200 day moving average price is $77.94. The stock has a market capitalization of $16.25 billion, a P/E ratio of 8.10, a PEG ratio of 6.29 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same period in the previous year, the business earned $1.73 EPS. The company's revenue was down 3.6% compared to the same quarter last year. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. As a group, equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Company 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.