Bunge Global SA $BG Stock Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in Bunge Global SA (NYSE:BG) by 1,547.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,074 shares of the basic materials company’s stock after purchasing an additional 108,091 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bunge Global were worth $12,088,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BG. Clark Wealth Partners grew its holdings in shares of Bunge Global by 3,657.1% in the third quarter. Clark Wealth Partners now owns 263 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 256 shares during the period. Provenance Wealth Advisors LLC bought a new position in shares of Bunge Global in the 3rd quarter worth approximately $46,000. Ameritas Advisory Services LLC purchased a new position in shares of Bunge Global in the second quarter worth approximately $50,000. Hilltop National Bank purchased a new position in shares of Bunge Global in the second quarter worth approximately $63,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in shares of Bunge Global by 54.0% in the third quarter. Quest 10 Wealth Builders Inc. now owns 622 shares of the basic materials company’s stock worth $66,000 after buying an additional 218 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BG. BMO Capital Markets restated an “outperform” rating and set a $150.00 target price on shares of Bunge Global in a research report on Thursday, August 13th. UBS Group increased their price target on shares of Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Weiss Ratings cut shares of Bunge Global from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, Zacks Research downgraded shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.38.

Bunge Global Stock Performance

Shares of BG opened at $100.39 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.50 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $108.08 and a two-hundred day simple moving average of $116.52. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 16.87 and a beta of 0.70. Bunge Global SA has a 52 week low of $88.24 and a 52 week high of $134.87.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Thursday, October 29th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.41 by $0.15. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The firm had revenue of $23.80 billion for the quarter, compared to the consensus estimate of $23.28 billion. During the same quarter last year, the company earned $2.27 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts expect that Bunge Global SA will post 9.63 EPS for the current year.

About Bunge Global

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains. The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services. Founded in 1818, Bunge expanded from its European origins into a global business.