Entropy Technologies LP Has $2.12 Million Stake in Bunge Global SA (NYSE:BG)

Key Points

• Entropy Technologies LP increased its stake in Bunge Global SA by 86% in Q1, owning 27,756 shares worth $2,121,000 following an acquisition of 12,831 additional shares.
• Other institutional investors, including Envestnet Asset Management and Bessemer Group, also boosted their holdings, reflecting a strong interest as hedge funds and institutions now own 86.23% of Bunge's stock.
• Bunge Global's recent quarterly earnings report showed earnings per share of $1.31, surpassing analysts' expectations, but revenue fell 3.6% year-over-year despite a successful performance of $12.77 billion.

Entropy Technologies LP raised its position in Bunge Global SA (NYSE:BG - Free Report) by 86.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,756 shares of the basic materials company's stock after purchasing an additional 12,831 shares during the quarter. Entropy Technologies LP's holdings in Bunge Global were worth $2,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC acquired a new stake in shares of Bunge Global in the 1st quarter valued at about $9,180,000. GAMMA Investing LLC grew its holdings in shares of Bunge Global by 152.1% in the 1st quarter. GAMMA Investing LLC now owns 3,275 shares of the basic materials company's stock valued at $250,000 after acquiring an additional 1,976 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of Bunge Global in the 4th quarter valued at about $1,596,000. Nisa Investment Advisors LLC grew its holdings in shares of Bunge Global by 23.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,341 shares of the basic materials company's stock valued at $408,000 after acquiring an additional 1,021 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in shares of Bunge Global in the 1st quarter valued at about $898,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Bunge Global Stock Performance

BG stock traded up $0.29 during mid-day trading on Friday, hitting $82.39. 314,341 shares of the company were exchanged, compared to its average volume of 1,827,036. The business has a 50 day simple moving average of $79.25 and a 200-day simple moving average of $76.88. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $11.07 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 5.14 and a beta of 0.67. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $101.81.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. On average, equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.4%. Bunge Global's dividend payout ratio (DPR) is 27.97%.

Analyst Upgrades and Downgrades

BG has been the subject of several analyst reports. Stephens decreased their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Morgan Stanley set a $83.00 price target on Bunge Global and gave the stock an "equal weight" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $83.40.

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.