Ground Swell Capital LLC Makes New Investment in Bunge Global SA (NYSE:BG)

Ground Swell Capital LLC acquired a new position in Bunge Global SA (NYSE:BG) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,373 shares of the basic materials company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Manchester Capital Management LLC lifted its holdings in shares of Bunge Global by 588.5% during the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 359 shares during the last quarter. UMB Bank n.a. raised its holdings in Bunge Global by 163.1% in the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 261 shares during the last quarter. Riverview Trust Co raised its holdings in Bunge Global by 130.8% in the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 255 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Bunge Global by 197.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 341 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in Bunge Global by 66.5% in the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 222 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BG has been the subject of a number of recent analyst reports. Morgan Stanley set a $83.00 price objective on shares of Bunge Global and gave the stock an “equal weight” rating in a report on Tuesday. Stephens cut 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.40.

Bunge Global Stock Up 0.8%

Shares of NYSE BG opened at $83.21 on Thursday. The firm’s 50-day moving average price is $79.08 and its 200-day moving average price is $76.86. 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 stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 5.09 and a beta of 0.67. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $101.81.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The business had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.4%. Bunge Global’s dividend payout ratio (DPR) is currently 27.97%.

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.