Bunge Global SA $BG Position Cut by Cornerstone Select Advisors LLC

Key Points

• Cornerstone Select Advisors LLC reduced its stake in Bunge Global SA by 58.5%, holding 6,614 shares after selling 9,314 shares, with a total value of approximately $505,000.
• Bunge Global reported earnings of $1.31 per share, exceeding analysts' estimates of $1.19, despite a 3.6% decline in quarterly revenue year-over-year.
• The company announced a dividend payout of $0.70 per share, scheduled for September 2nd, with a yield of 342.0% and a payout ratio of 27.97%.

Cornerstone Select Advisors LLC lowered its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 58.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,614 shares of the basic materials company's stock after selling 9,314 shares during the period. Cornerstone Select Advisors LLC's holdings in Bunge Global were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Korea Investment CORP raised its stake in shares of Bunge Global by 23.8% during the first quarter. Korea Investment CORP now owns 132,108 shares of the basic materials company's stock valued at $10,096,000 after purchasing an additional 25,400 shares during the period. Brooklyn Investment Group grew its position in shares of Bunge Global by 44.8% during the first quarter. Brooklyn Investment Group now owns 828 shares of the basic materials company's stock worth $63,000 after buying an additional 256 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Bunge Global during the first quarter worth approximately $325,000. American Century Companies Inc. grew its position in shares of Bunge Global by 20.1% during the first quarter. American Century Companies Inc. now owns 290,540 shares of the basic materials company's stock worth $22,203,000 after buying an additional 48,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bunge Global by 34.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock worth $255,756,000 after buying an additional 859,733 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

Bunge Global stock traded up $3.6640 during mid-day trading on Friday, reaching $87.0640. The company's stock had a trading volume of 3,252,920 shares, compared to its average volume of 1,846,117. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 5.09 and a beta of 0.67. The business has a 50 day moving average price of $79.85 and a 200-day moving average price of $77.05. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $101.81.

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

Bunge Global Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be paid a $0.70 dividend. This represents a yield of 342.0%. The ex-dividend date is Tuesday, August 19th. Bunge Global's dividend payout ratio (DPR) is presently 27.97%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BG shares. JPMorgan Chase & Co. started coverage on shares of Bunge Global in a research report on Wednesday. They set an "overweight" rating and a $95.00 price target for the company. Stephens decreased their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on shares of Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.33.

Insider Transactions at Bunge Global

In related news, Director Christopher Mahoney bought 5,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares of the company's stock, valued at $585,513.72. This represents a 231.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company's stock.

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.