Nuveen LLC Purchases New Position in Bunge Global SA $BG

Key Points

• Nuveen LLC acquired a new stake in Bunge Global SA, purchasing 536,030 shares valued at approximately $40.96 million, representing about 0.40% ownership of the company.
• Several hedge funds have significantly increased their positions in Bunge Global, with Manchester Capital Management's holding growing by 588.5% in the same quarter.
• Bunge Global announced a $0.70 dividend to be paid on September 2nd, with an impressive yield of 342.0%, reflecting a dividend payout ratio of 27.97%.

Nuveen LLC acquired a new position in shares of Bunge Global SA (NYSE:BG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 536,030 shares of the basic materials company's stock, valued at approximately $40,963,000. Nuveen LLC owned approximately 0.40% of Bunge Global as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aigen Investment Management LP grew its holdings in 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 purchasing an additional 757 shares during the period. Entropy Technologies LP lifted its position in shares of Bunge Global by 86.0% in the first quarter. Entropy Technologies LP now owns 27,756 shares of the basic materials company's stock valued at $2,121,000 after buying an additional 12,831 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Bunge Global by 3.8% during the 1st 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 during the period. Covestor Ltd increased its holdings in shares of Bunge Global by 25.9% during the 1st quarter. Covestor Ltd now owns 2,940 shares of the basic materials company's stock worth $225,000 after acquiring an additional 605 shares during the last quarter. Finally, Townsquare Capital LLC raised its stake in Bunge Global by 427.6% in the 1st quarter. Townsquare Capital LLC now owns 13,813 shares of the basic materials company's stock valued at $1,056,000 after acquiring an additional 11,195 shares during the period. 86.23% of the stock is owned by institutional investors.

Bunge Global Price Performance

NYSE:BG traded up $2.1890 during trading hours on Wednesday, reaching $82.0590. 999,847 shares of the company were exchanged, compared to its average volume of 1,827,498. The company has a market capitalization of $16.42 billion, a P/E ratio of 8.21, a P/E/G ratio of 4.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The business has a 50 day moving average of $79.59 and a 200 day moving average of $76.95. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $101.81.

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 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 analysts' expectations 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 prior year, the business posted $1.73 earnings per share. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 27.97%.

Analyst Ratings Changes

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