SteelPeak Wealth LLC Makes New Investment in Bunge Global SA (NYSE:BG)

SteelPeak Wealth LLC bought a new position in shares of Bunge Global SA (NYSE:BG) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 20,847 shares of the basic materials company’s stock, valued at approximately $2,137,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Bunge Global by 69.4% during the 4th quarter. Nordea Investment Management AB now owns 75,691 shares of the basic materials company’s stock worth $7,621,000 after purchasing an additional 30,999 shares during the period. Cutter & CO Brokerage Inc. grew its holdings in shares of Bunge Global by 1.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 9,305 shares of the basic materials company’s stock worth $939,000 after acquiring an additional 165 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Bunge Global by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,642 shares of the basic materials company’s stock worth $20,319,000 after acquiring an additional 10,891 shares during the period. SG Americas Securities LLC grew its holdings in shares of Bunge Global by 423.6% in the 4th quarter. SG Americas Securities LLC now owns 52,247 shares of the basic materials company’s stock worth $5,274,000 after acquiring an additional 42,268 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Bunge Global in the 3rd quarter worth approximately $2,706,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Buying and Selling

In related news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

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

Bunge Global Trading Down 0.8 %

Shares of Bunge Global stock opened at $106.77 on Monday. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The firm has a market cap of $15.12 billion, a PE ratio of 8.60 and a beta of 0.67. The business’s fifty day moving average is $104.66 and its two-hundred day moving average is $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 (NYSE:BG) last issued its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.26 EPS. Analysts anticipate that Bunge Global SA will post 9.28 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s dividend payout ratio (DPR) is currently 21.90%.

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.