Bunge Global SA (NYSE:BG) has seen an increase in short interest by 34.5% in December. Hedge funds are considering it among the best pizza stocks, and it stood out on a strong trading day, outperforming competitors. Despite its low valuation, some investors are moving in due to its solid fundamentals. It boasts a $1.95B Viterra note exchange offer with a participation rate of 99% and its Q4 2024 earnings call is scheduled for February 5.
Bunge Global has received conditional approval from Canada for Viterra takeover. Its robust ownership structure, with institutional owners holding 89% of shares. Despite hitting a 52-week low multiple times amid market challenges, the stock remains attractive to investors. The company also announced a pricing of $2.0 Billion Senior Notes Offering, a boost of $500M to its share buyback program, and an upcoming dividend.
Strategic actions like the sale of its ownership share in BP Bunge Bioenergia Joint Venture in Brazil, and a merger with Viterra that has won conditional EU Nod despite facing potential delays, highlight the company's forward-moving approach. The expected earnings from bumper harvests missed their mark due to the Viterra merger costs. Bunge has also completed its move of place of incorporation to Switzerland.
Bunge Global Sa BG News Analytics from Fri, 06 Nov 2020 08:00:00 GMT to Sat, 18 Jan 2025 09:19:05 GMT - Rating 7 - Rumor -5
