Bunge Global S.A. (BG) displayed a mixed performance in recent times, with declining performance at certain points compared to competitors, but also registering strong trading days. The company's Q2 profit surpassed estimates, with an EPS beat of 134%. The strong performance saw UBS maintain its Buy rating post-Viterra merger. The BG stock was noted for a healthy yield of 3.18% with insider buying happening, making it a top dividend stock. Insider buying was evident as director Christopher Mahoney invested $408.6k. Despite performing under the S&P500, Wall Street maintains a largely bullish stance on the stock, with JP Morgan raising price targets to $95 and assuming coverage on the stock with an Overweight rating. The Agribusiness giant successfully completed a $1.3 billion senior notes sale. Keeping its dividend commitment, BG declared a $0.70 dividend pay out. It completed a $1.92 billion exchange offer for Viterra notes and also received China's conditional approval for its Glencore-backed Viterra merger. Post merger, BG now enjoys 84% institutional backing. Critics argue potential undervaluation by 48% and shares more to worry about beyond the soft earnings. Despite lower sales, the company's profit outperformed, causing a 5.1% hike in its stock. The company divested its North America Dry Corn and Masa Milling business and navigated strategic challenges to highlight potential wins.
Bunge Global Sa BG News Analytics from Wed, 30 Oct 2024 07:00:00 GMT to Tue, 26 Aug 2025 20:30:00 GMT -
Rating +7
- Innovation +6
- Information +8
- Rumor -2
