Old West Investment Management LLC Increases Position in Bunge Global SA $BG

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 Bunge Global SA (NYSE:BG - Free Report) by 31.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,191 shares of the basic materials company's stock after acquiring an additional 38,777 shares during the quarter. Bunge Global comprises about 4.5% of Old West Investment Management LLC's investment portfolio, making the stock its 5th biggest position. 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.

Several other institutional investors and hedge funds also recently made changes to their positions in BG. Manchester Capital Management LLC increased its stake in Bunge Global by 588.5% in the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 359 shares during the period. UMB Bank n.a. lifted its position in shares of Bunge Global by 163.1% during the first quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after purchasing an additional 261 shares in the last quarter. Riverview Trust Co lifted its holdings in Bunge Global by 130.8% in the first 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 period. SVB Wealth LLC acquired a new position in Bunge Global in the first quarter valued at approximately $38,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Bunge Global by 197.1% in the first 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 period. Institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BG shares. Morgan Stanley upped their target price 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. 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bunge Global in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Bunge Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Bunge Global Trading Up 4.4%

Shares of Bunge Global stock opened at $87.0640 on Monday. The firm has a market capitalization of $17.42 billion, a PE ratio of 8.70, a price-to-earnings-growth 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's 50 day moving average is $79.97 and its 200 day moving average is $77.24. 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 earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.12. The firm had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 EPS. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Equities research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, August 19th. This represents a dividend yield of 342.0%. Bunge Global's dividend payout ratio is presently 27.97%.

Insider Activity

In related news, Director Christopher Mahoney purchased 5,000 shares of Bunge Global stock in a transaction that occurred on Monday, August 18th. The stock was bought 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 owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is currently 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.

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