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 trimmed its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 26.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 quarter.

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

Insider Transactions at Bunge Global

In other news, Director Christopher Mahoney purchased 5,000 shares of the stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the transaction, the director directly owned 7,164 shares of the company's stock, valued at approximately $585,513.72. This trade represents a 231.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.80% of the company's stock.

Bunge Global Price Performance

NYSE:BG traded down $3.06 during trading hours on Tuesday, hitting $85.09. 2,425,504 shares of the company's stock traded hands, compared to its average volume of 1,852,367. The firm has a market cap of $17.02 billion, a P/E ratio of 8.50, a P/E/G ratio of 5.82 and a beta of 0.67. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $101.81. The business's fifty day simple moving average is $80.01 and its two-hundred day simple moving average is $77.37. 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 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. The company had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, research analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BG shares. 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. JPMorgan Chase & Co. started coverage on Bunge Global in a report on Wednesday, August 20th. They set an "overweight" rating and a $95.00 price objective for the company. Finally, Stephens reduced 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. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.33.

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.