Korea Investment CORP Grows Position in Bunge Global SA $BG

Key Points

• Korea Investment CORP increased its stake in Bunge Global SA by 23.8% in Q1, holding 132,108 shares valued at approximately $10.1 million.
• Analysts have a consensus rating of "Moderate Buy" for Bunge Global, with an average price target of $85.33, following various upgrades from firms including JPMorgan Chase and Morgan Stanley.
• Bunge Global recently announced a dividend of $0.70 per share, set to be paid on September 2nd, reflecting a significant dividend yield of 342.0%.

Korea Investment CORP raised its stake in Bunge Global SA (NYSE:BG - Free Report) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,108 shares of the basic materials company's stock after purchasing an additional 25,400 shares during the period. Korea Investment CORP owned 0.10% of Bunge Global worth $10,096,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BG. Raymond James Financial Inc. purchased a new position in Bunge Global in the fourth quarter valued at approximately $1,994,000. Townsquare Capital LLC purchased a new position in Bunge Global in the fourth quarter valued at approximately $204,000. First Trust Advisors LP boosted its holdings in shares of Bunge Global by 24.5% in the fourth quarter. First Trust Advisors LP now owns 502,870 shares of the basic materials company's stock valued at $39,103,000 after acquiring an additional 98,819 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Bunge Global by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company's stock valued at $193,379,000 after acquiring an additional 183,701 shares during the period. Finally, State of Tennessee Department of Treasury boosted its holdings in shares of Bunge Global by 12.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 78,318 shares of the basic materials company's stock valued at $6,090,000 after acquiring an additional 8,691 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BG shares. JPMorgan Chase & Co. started coverage on Bunge Global in a report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 price objective for the company. 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. Finally, Morgan Stanley increased their price objective on Bunge Global from $74.00 to $83.00 and gave the company an "equal weight" rating in a 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 MarketBeat.com, Bunge Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Bunge Global Stock Performance

Shares of NYSE BG traded down $0.18 during mid-day trading on Wednesday, hitting $84.75. 1,350,104 shares of the company were exchanged, compared to its average volume of 2,238,428. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $79.97 and a 200-day simple moving average of $77.47. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $101.81. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 6.34 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, topping 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 firm had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same period last year, the company earned $1.73 earnings per share. The company's revenue for the quarter was down 3.6% on a year-over-year basis. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, sell-side analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

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

Insider Buying and Selling at Bunge Global

In related news, Director Christopher Mahoney purchased 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, with a total value of $408,650.00. Following the completion of the acquisition, the director directly owned 7,164 shares in the company, valued at $585,513.72. This trade represents a 231.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.80% of the stock is currently owned by corporate insiders.

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.