Ground Swell Capital LLC Purchases New Holdings in Bunge Global SA $BG

Key Points

• Ground Swell Capital LLC has acquired a new stake in Bunge Global SA, purchasing 3,373 shares valued at approximately $258,000.
• Bunge Global reported an EPS of $1.31 for the last quarter, surpassing analyst expectations of $1.19, with total revenue of $12.77 billion.
• The company announced a quarterly dividend of $0.70, representing an annualized dividend yield of 3.4%, to be paid on March 3rd.

Ground Swell Capital LLC acquired a new position in Bunge Global SA (NYSE:BG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,373 shares of the basic materials company's stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd purchased a new position in Bunge Global during the first quarter worth $92,552,000. Voloridge Investment Management LLC boosted its position 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 buying an additional 991,607 shares during the last quarter. Man Group plc purchased a new stake in Bunge Global in the fourth quarter valued at approximately $50,561,000. Nuveen LLC purchased a new stake in Bunge Global in the 1st quarter worth approximately $40,963,000. Finally, Deutsche Bank AG boosted its position in Bunge Global by 33.7% in the 4th quarter. Deutsche Bank AG now owns 1,261,979 shares of the basic materials company's stock worth $98,131,000 after purchasing an additional 317,902 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Price Performance

BG traded down $1.18 during trading on Monday, reaching $80.60. 1,909,484 shares of the stock were exchanged, compared to its average volume of 1,832,928. The business's 50 day moving average price is $79.39 and its two-hundred day moving average price is $76.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 5.05 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, beating the consensus estimate of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The business had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the prior year, the business earned $1.73 earnings per share. The business's revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on BG shares. Stephens reduced their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Morgan Stanley set a $83.00 target price on Bunge Global and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $83.40.

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.