1832 Asset Management L.P. Takes Position in Bunge Global SA (NYSE:BG)

1832 Asset Management L.P. bought a new position in shares of Bunge Global SA (NYSE:BG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,189 shares of the basic materials company’s stock, valued at approximately $1,865,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in shares of Bunge Global in the 4th quarter valued at about $37,000. Riverview Trust Co acquired a new stake in shares of Bunge Global in the first quarter valued at approximately $46,000. GAMMA Investing LLC bought a new position in shares of Bunge Global during the 4th quarter worth approximately $62,000. Rise Advisors LLC raised its stake in Bunge Global by 56.8% in the 1st quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 230 shares during the period. Finally, Mather Group LLC. bought a new stake in Bunge Global in the 1st quarter valued at $76,000. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Performance

NYSE BG traded up $1.36 during trading on Friday, reaching $114.31. The company’s stock had a trading volume of 757,750 shares, compared to its average volume of 1,042,963. The firm has a 50 day moving average price of $107.36 and a 200 day moving average price of $100.96. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $116.59. The firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 9.20 and a beta of 0.67. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the previous year, the business earned $3.26 earnings per share. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Bunge Global SA will post 9.2 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is currently 21.90%.

Insider Buying and Selling

In related news, insider Christos Dimopoulos sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the completion of the sale, the insider now owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Citigroup upped their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.00.

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.