HighTower Advisors LLC Sells 3,933 Shares of Bunge Global SA $BG

Key Points

• HighTower Advisors LLC decreased its stake in Bunge Global SA by 13.4%, selling 3,933 shares, bringing its total holdings to 25,382 shares, valued at approximately $1.94 million.
• Bunge Global's stock recently increased by 4.4%, trading at around $87.06, while the company reported a net margin of 2.71% and earnings of $1.31 per share, exceeding expectations.
• The company announced a dividend of $0.70 per share, with a dividend yield of 342.0%, scheduled for distribution on September 2nd.

HighTower Advisors LLC lessened its holdings in Bunge Global SA (NYSE:BG - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,382 shares of the basic materials company's stock after selling 3,933 shares during the period. HighTower Advisors LLC's holdings in Bunge Global were worth $1,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board raised its holdings in shares of Bunge Global by 0.9% during the first quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company's stock worth $1,321,000 after acquiring an additional 149 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Bunge Global during the first quarter worth $40,963,000. Aigen Investment Management LP raised its holdings in shares of Bunge Global by 3.3% during the first quarter. Aigen Investment Management LP now owns 23,401 shares of the basic materials company's stock worth $1,788,000 after acquiring an additional 757 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of Bunge Global by 86.0% during the first quarter. Entropy Technologies LP now owns 27,756 shares of the basic materials company's stock worth $2,121,000 after acquiring an additional 12,831 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Bunge Global by 3.8% during the first quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company's stock worth $254,446,000 after acquiring an additional 122,931 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

BG stock traded up $0.24 during trading on Thursday, reaching $84.91. 710,343 shares of the stock were exchanged, compared to its average volume of 1,842,048. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $101.81. The company has a market capitalization of $16.99 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 6.34 and a beta of 0.67. The stock has a 50 day simple moving average of $79.97 and a 200-day simple moving average of $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 released its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.12. The business had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $1.73 earnings per share. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. As a group, sell-side analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Insider Activity

In other news, Director Christopher Mahoney bought 5,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was bought at an average price 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 approximately $585,513.72. The trade was a 231.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.