Martingale Asset Management L P Lowers Stock Holdings in Bunge Global SA $BG

Key Points

• Martingale Asset Management L P has reduced its stake in Bunge Global SA by 26.5%, selling 12,966 shares, resulting in ownership of 35,883 shares valued at approximately $2.74 million.
• Several hedge funds have increased their holdings in Bunge Global, with Dimensional Fund Advisors LP raising its position by 34.6% to over 3.3 million shares, valued at $255.8 million.
• Bunge Global reported $1.31 EPS for the last quarter, exceeding estimates, and declared a dividend of $0.70 per share, set to be paid on September 2nd.

Martingale Asset Management L P cut its position in Bunge Global SA (NYSE:BG - Free Report) by 26.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,883 shares of the basic materials company's stock after selling 12,966 shares during the quarter. Martingale Asset Management L P's holdings in Bunge Global were worth $2,742,000 at the end of the most recent reporting period.

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

Bunge Global Stock Performance

Shares of NYSE:BG traded down $0.50 during trading on Thursday, hitting $84.17. 428,433 shares of the stock traded hands, compared to its average volume of 1,840,305. The company has a fifty day moving average price of $79.97 and a two-hundred day moving average price of $77.47. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $101.81. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 6.34 and a beta of 0.67. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59.

Bunge Global (NYSE:BG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $12.57 billion. During the same period last year, the firm earned $1.73 EPS. The company's quarterly revenue was down 3.6% on a year-over-year basis. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. As a group, equities analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BG. Morgan Stanley boosted their price target on Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. assumed coverage on shares of Bunge Global in a research note on Wednesday, August 20th. They set an "overweight" rating and a $95.00 price target on the stock. Finally, Stephens lowered their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bunge Global presently has an average rating of "Moderate Buy" and an average target price of $85.33.

Insider Activity

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $81.73 per share, with a total value of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares in the company, valued at approximately $585,513.72. This represents a 231.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

About Bunge Global

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.