Invenomic Capital Management LP Purchases New Position in Bunge Global SA (NYSE:BG)

Invenomic Capital Management LP purchased a new stake in Bunge Global SA (NYSE:BG) during the first quarter, according to its most recent filing with the SEC. The firm purchased 119,932 shares of the basic materials company’s stock, valued at approximately $12,295,000. Invenomic Capital Management LP owned 0.08% of Bunge Global at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. NewSquare Capital LLC bought a new stake in Bunge Global during the 4th quarter worth approximately $37,000. Riverview Trust Co bought a new stake in Bunge Global during the 1st quarter worth approximately $46,000. GAMMA Investing LLC bought a new stake in Bunge Global during the 4th quarter worth approximately $62,000. Rise Advisors LLC grew its stake in shares of Bunge Global by 56.8% during the 1st quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 230 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Bunge Global during the 1st quarter worth approximately $76,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was 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 approximately $9,086,776.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Bunge Global Stock Up 0.9 %

Shares of NYSE BG traded up $1.04 during trading hours on Tuesday, hitting $114.61. The company had a trading volume of 1,429,750 shares, compared to its average volume of 1,529,547. The stock has a market capitalization of $16.23 billion, a P/E ratio of 9.23 and a beta of 0.67. 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 1-year low of $86.10 and a 1-year high of $116.59. The firm’s 50 day moving average is $107.81 and its 200-day moving average is $101.27.

Bunge Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s payout ratio is presently 21.90%.

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.