Bunge Global SA (NYSE:BG) Stock Position Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Bunge Global SA (NYSE:BG) by 12.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,491 shares of the basic materials company’s stock after selling 924 shares during the period. Maryland State Retirement & Pension System’s holdings in Bunge Global were worth $496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in 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 in the last quarter. UMB Bank n.a. grew its position in Bunge Global by 163.1% during the first quarter. UMB Bank n.a. now owns 421 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 261 shares in the last quarter. Riverview Trust Co grew its position in Bunge Global by 130.8% during the first quarter. Riverview Trust Co now owns 450 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 255 shares in the last quarter. Spire Wealth Management grew its position in Bunge Global by 66.5% during the first quarter. Spire Wealth Management now owns 556 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 222 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in Bunge Global during the first quarter valued at approximately $42,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Stock Down 1.4%

Bunge Global stock opened at $82.11 on Friday. The company has a market capitalization of $11.04 billion, a P/E ratio of 8.20, a P/E/G ratio of 5.14 and a beta of 0.67. The firm’s fifty day simple moving average is $79.25 and its 200-day simple moving average is $76.88. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $101.81.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $12.57 billion. During the same period last year, the business posted $1.73 EPS. Bunge Global’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

BG has been the topic of a number of research analyst reports. Stephens lowered their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley set a $83.00 price target on shares of Bunge Global and gave the company an “equal weight” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.40.

Bunge Global Company 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.