11,399 Shares in Bunge Global SA (NYSE:BG) Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System bought a new stake in shares of Bunge Global SA (NYSE:BG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,399 shares of the basic materials company’s stock, valued at approximately $1,151,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its stake in shares of Bunge Global by 69.4% in the fourth quarter. Nordea Investment Management AB now owns 75,691 shares of the basic materials company’s stock worth $7,621,000 after acquiring an additional 30,999 shares during the last quarter. Cutter & CO Brokerage Inc. increased its stake in Bunge Global by 1.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 9,305 shares of the basic materials company’s stock valued at $939,000 after purchasing an additional 165 shares in the last quarter. SG Americas Securities LLC raised its holdings in Bunge Global by 423.6% in the fourth quarter. SG Americas Securities LLC now owns 52,247 shares of the basic materials company’s stock worth $5,274,000 after buying an additional 42,268 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Bunge Global during the third quarter valued at approximately $2,706,000. Finally, Asset Management One Co. Ltd. increased its position in shares of Bunge Global by 53.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 91,657 shares of the basic materials company’s stock valued at $9,314,000 after acquiring an additional 32,020 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and cut their target price for the company from $122.00 to $105.00 in a research note on Friday, February 9th. Robert W. Baird reduced their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. StockNews.com downgraded shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Roth Mkm decreased their target price on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Wolfe Research downgraded Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Bunge Global Price Performance

Shares of Bunge Global stock opened at $105.35 on Thursday. The stock has a market cap of $14.92 billion, a P/E ratio of 8.48 and a beta of 0.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The stock’s fifty day moving average is $101.03 and its 200 day moving average is $99.93. Bunge Global SA has a one year low of $86.10 and a one year high of $116.59.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion for the quarter, compared to the consensus estimate 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 last year, the company earned $3.26 earnings per share. Sell-side analysts anticipate that Bunge Global SA will post 9.03 earnings per share for the current year.

Bunge Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.68 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.58%. Bunge Global’s payout ratio is currently 21.34%.

Bunge Global 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.