Russell Investments Group Ltd. Cuts Holdings in Bunge Global SA $BG

Key Points

• Russell Investments Group Ltd. reduced its holdings in Bunge Global SA by 27.2% during the first quarter, now owning 63,259 shares valued at approximately $4.83 million.
• Bunge Global is currently rated as a "Moderate Buy" with an average target price of $85.33, while recent earnings reported beat analysts' estimates of $1.19, coming in at $1.31 per share.
• The company recently announced a dividend of $0.70 per share, set to be paid on September 2nd, representing a significant dividend yield of 342.0%.

Russell Investments Group Ltd. trimmed its position in Bunge Global SA (NYSE:BG - Free Report) by 27.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,259 shares of the basic materials company's stock after selling 23,672 shares during the quarter. Russell Investments Group Ltd.'s holdings in Bunge Global were worth $4,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudential PLC bought a new stake in shares of Bunge Global during the 1st quarter valued at $446,000. Public Sector Pension Investment Board lifted its position in shares of Bunge Global by 0.9% during the 1st quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company's stock valued at $1,321,000 after acquiring an additional 149 shares during the period. Nuveen LLC bought a new stake in shares of Bunge Global during the 1st quarter valued at $40,963,000. Aigen Investment Management LP lifted its position in shares of Bunge Global by 3.3% during the 1st quarter. Aigen Investment Management LP now owns 23,401 shares of the basic materials company's stock valued at $1,788,000 after acquiring an additional 757 shares during the period. Finally, Entropy Technologies LP lifted its position in shares of Bunge Global by 86.0% during the 1st quarter. Entropy Technologies LP now owns 27,756 shares of the basic materials company's stock valued at $2,121,000 after acquiring an additional 12,831 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Down 0.2%

Shares of BG traded down $0.18 during mid-day trading on Wednesday, reaching $84.75. The company's stock had a trading volume of 1,350,104 shares, compared to its average volume of 2,238,428. The stock has a market cap of $16.96 billion, a PE ratio of 8.47, a P/E/G ratio of 6.34 and a beta of 0.67. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $101.81. The company's fifty day moving average price is $79.97 and its two-hundred day moving average price is $77.47. 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 (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.12. The company had revenue of $12.77 billion during the quarter, compared to analysts' expectations of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.Bunge Global's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 EPS. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, analysts predict that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a yield of 342.0%. Bunge Global's dividend payout ratio is presently 27.97%.

Analyst Ratings Changes

BG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Bunge Global in a research report on Wednesday, August 20th. They set an "overweight" rating and a $95.00 target price for the company. Stephens dropped their price objective on 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 upped their price objective on 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $85.33.

Insider Activity

In other news, Director Christopher Mahoney bought 5,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $81.73 per share, with a total value of $408,650.00. Following the transaction, the director owned 7,164 shares of the company's stock, valued at approximately $585,513.72. The trade was 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 the SEC website. Corporate insiders own 0.80% of the company's stock.

Bunge Global 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.