Maryland State Retirement & Pension System Makes New $1.15 Million Investment in Bunge Global SA (NYSE:BG)

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

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

Bunge Global Trading Up 1.0 %

NYSE BG opened at $105.35 on Thursday. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 8.48 and a beta of 0.65. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $116.59. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $101.03 and its 200 day moving average is $99.93.

Bunge Global (NYSE:BG) last posted its earnings results 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. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.96 billion. During the same period last year, the company earned $3.26 EPS. The firm’s revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that Bunge Global SA will post 9.03 EPS for the current fiscal year.

Bunge Global Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Roth Mkm dropped their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a report on Monday, February 5th. The Goldman Sachs Group dropped their price target on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Wolfe Research cut Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, Barclays cut their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

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.