Wellington Management Group LLP Raises Holdings in Bunge Global SA (NYSE:BG)

Wellington Management Group LLP lifted its holdings in Bunge Global SA (NYSE:BG) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,739 shares of the basic materials company’s stock after purchasing an additional 3,366 shares during the quarter. Wellington Management Group LLP’s holdings in Bunge Global were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC bought a new position in Bunge Global during the 4th quarter valued at about $37,000. Rise Advisors LLC boosted its holdings in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 117 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in Bunge Global in the third quarter worth approximately $54,000. GAMMA Investing LLC bought a new stake in Bunge Global in the 4th quarter worth approximately $62,000. Finally, Allworth Financial LP raised its stake in Bunge Global by 56.5% during the 4th quarter. Allworth Financial LP now owns 1,033 shares of the basic materials company’s stock valued at $104,000 after buying an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG opened at $106.77 on Monday. The business has a 50-day simple moving average of $104.66 and a two-hundred day simple moving average of $99.62. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $116.59. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 8.60 and a beta of 0.67.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. The company had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.26 EPS. On average, analysts expect that Bunge Global SA will post 9.28 EPS for the current year.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a yield of 2.55%. Bunge Global’s payout ratio is presently 21.90%.

Analyst Ratings Changes

Separately, Citigroup lifted their price objective on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Insider Buying and Selling at Bunge Global

In related news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total value of $2,065,200.00. Following the transaction, the insider now directly owns 87,999 shares of the company’s stock, valued at approximately $9,086,776.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% 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.