Wellington Management Group LLP Decreases Stock Holdings in Bunge Global SA $BG

Key Points

• Wellington Management Group LLP significantly reduced its stake in Bunge Global SA by 56.9%, now holding 103,733 shares valued at approximately $7.93 million.
• Analyst firms have varying opinions on Bunge Global, with Morgan Stanley raising its price target from $74 to $83, while JPMorgan Chase & Co. gave it an "overweight" rating with a target of $95.
• Director Christopher Mahoney purchased 5,000 shares at an average price of $81.73, increasing his holdings in Bunge Global by 231.05%.

Wellington Management Group LLP trimmed its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 56.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,733 shares of the basic materials company's stock after selling 136,862 shares during the period. Wellington Management Group LLP owned 0.08% of Bunge Global worth $7,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Korea Investment CORP raised its stake in shares of Bunge Global by 23.8% during the first quarter. Korea Investment CORP now owns 132,108 shares of the basic materials company's stock worth $10,096,000 after buying an additional 25,400 shares during the last quarter. Brooklyn Investment Group grew its holdings in Bunge Global by 44.8% during the first quarter. Brooklyn Investment Group now owns 828 shares of the basic materials company's stock valued at $63,000 after purchasing an additional 256 shares during the period. Algert Global LLC acquired a new position in Bunge Global during the first quarter valued at approximately $325,000. American Century Companies Inc. grew its holdings in Bunge Global by 20.1% during the first quarter. American Century Companies Inc. now owns 290,540 shares of the basic materials company's stock valued at $22,203,000 after purchasing an additional 48,578 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Bunge Global by 34.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock valued at $255,756,000 after purchasing an additional 859,733 shares during the period. 86.23% of the stock is owned by institutional investors.

Bunge Global Price Performance

BG traded down $0.35 during midday trading on Friday, hitting $84.28. The stock had a trading volume of 1,424,764 shares, compared to its average volume of 1,999,653. The company has a market cap of $16.86 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 6.29 and a beta of 0.67. The business has a fifty day moving average of $79.93 and a 200 day moving average of $77.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07. 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 issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (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 analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.Bunge Global's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. As a group, equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Bunge Global in a report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 price target for the company. Morgan Stanley increased their target price on shares of Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Finally, Stephens dropped their price target on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Bunge Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Insider Buying and Selling at Bunge Global

In related news, Director Christopher Mahoney acquired 5,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $81.73 per share, with a total value of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares in the company, valued at $585,513.72. This trade represents a 231.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.80% of the company's stock.

Bunge Global Company 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.