Maryland State Retirement & Pension System Sells 617 Shares of Bunge Global SA (NYSE:BG)

Maryland State Retirement & Pension System decreased its stake in shares of Bunge Global SA (NYSE:BG) by 7.7% during the fourth quarter, HoldingsChannel reports. The firm owned 7,415 shares of the basic materials company’s stock after selling 617 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bunge Global were worth $577,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Bunge Global by 16.9% in the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after purchasing an additional 39,646 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Bunge Global by 7.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after acquiring an additional 278 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Bunge Global by 39.6% during the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock valued at $1,665,000 after acquiring an additional 6,077 shares during the period. iA Global Asset Management Inc. bought a new stake in Bunge Global during the third quarter worth about $888,000. Finally, State Street Corp boosted its stake in Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after acquiring an additional 500,897 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 0.7 %

Bunge Global stock opened at $72.72 on Tuesday. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92. The stock has a fifty day simple moving average of $74.26 and a two-hundred day simple moving average of $83.52. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.66 and a beta of 0.67.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Equities analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BG has been the subject of several recent research reports. Morgan Stanley lowered their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Bank of America lowered their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Stephens cut their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Barclays lowered their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

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.