Northern Trust Corp Sells 46,700 Shares of Bunge Global SA $BG

Key Points

• Northern Trust Corp reduced its stake in Bunge Global SA by 2.0% during the first quarter, now holding approximately 1.73% of the company valued at $177.42 million.
• Several institutional investors increased their holdings in Bunge Global, with significant boosts from SBI Securities Co. Ltd. and Allworth Financial LP in the same period.
• Bunge Global recently declared a $0.70 dividend with a robust yield of 342.0%, to be paid on September 2nd for stockholders of record as of August 20th.

Northern Trust Corp trimmed its stake in shares of Bunge Global SA (NYSE:BG - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,321,699 shares of the basic materials company's stock after selling 46,700 shares during the period. Northern Trust Corp owned about 1.73% of Bunge Global worth $177,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its stake in Bunge Global by 588.5% in the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after buying an additional 359 shares during the last quarter. UMB Bank n.a. increased its stake in Bunge Global by 163.1% in the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock valued at $32,000 after buying an additional 261 shares during the last quarter. Riverview Trust Co increased its stake in Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock valued at $34,000 after buying an additional 255 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Bunge Global by 197.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company's stock valued at $39,000 after buying an additional 341 shares during the last quarter. Finally, Spire Wealth Management increased its stake in Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock valued at $42,000 after buying an additional 222 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of BG traded up $3.6640 during midday trading on Friday, reaching $87.0640. The stock had a trading volume of 3,252,923 shares, compared to its average volume of 2,176,722. The firm has a market cap of $17.42 billion, a PE ratio of 8.70, a P/E/G ratio of 5.82 and a beta of 0.67. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $79.97 and a 200-day simple moving average of $77.24. Bunge Global SA has a one year low of $67.40 and a one year high of $101.81.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.19 by $0.12. The business had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. Bunge Global's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. 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 EPS for the current year.

Bunge Global Announces Dividend

The business also recently announced 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 payout ratio is presently 27.97%.

Analyst Upgrades and Downgrades

BG has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Bunge Global from $74.00 to $83.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. began coverage on shares of Bunge Global in a research report on Wednesday. They issued an "overweight" rating and a $95.00 price objective for the company. Finally, Stephens decreased 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 report on Thursday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.33.

Insider Activity at Bunge Global

In related news, Director Christopher Mahoney bought 5,000 shares of Bunge Global stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $81.73 per share, with a total value of $408,650.00. Following the acquisition, the director owned 7,164 shares of the company's stock, valued at approximately $585,513.72. This represents a 231.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

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.