Bunge Global SA $BG Holdings Lifted by Old West Investment Management LLC

Key Points

• Old West Investment Management LLC increased its position in Bunge Global SA by 31.2%, owning 163,191 shares, making it the firm's 5th largest investment.
• Several institutional investors have also significantly increased their holdings in Bunge Global, including Manchester Capital Management, which raised its stake by 588.5%.
• Bunge Global recently announced a $0.70 dividend to be paid on September 2nd, representing a dividend yield of 342.0%.

Old West Investment Management LLC increased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 31.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 163,191 shares of the basic materials company's stock after buying an additional 38,777 shares during the period. Bunge Global accounts for 4.5% of Old West Investment Management LLC's holdings, making the stock its 5th biggest holding. Old West Investment Management LLC owned about 0.12% of Bunge Global worth $12,471,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Christopher Mahoney purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the acquisition, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley raised their target price on 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. initiated coverage on Bunge Global in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 target price for the company. Finally, Stephens decreased their target price 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.33.

Bunge Global Stock Down 0.4%

Shares of NYSE:BG traded down $0.35 during midday trading on Friday, hitting $84.28. 1,424,764 shares of the company's stock were exchanged, compared to its average volume of 2,022,343. 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 stock has a 50 day moving average price of $79.93 and a 200-day moving average price of $77.74. The company has a market cap of $16.86 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 6.29 and a beta of 0.67. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $101.81.

Bunge Global (NYSE:BG - Get Free Report) last released 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 net margin of 2.71% and a return on equity of 9.16%. The business had revenue of $12.77 billion for the quarter, compared to analysts' expectations of $12.57 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, sell-side analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

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.