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

Maryland State Retirement & Pension System cut its holdings in shares of Bunge Global SA (NYSE:BG) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BG. Spire Wealth Management purchased a new stake in Bunge Global during the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Bunge Global during the 3rd quarter valued at approximately $34,000. Crews Bank & Trust purchased a new stake in shares of Bunge Global during the 4th quarter worth approximately $39,000. R Squared Ltd bought a new stake in shares of Bunge Global in the 4th quarter worth approximately $45,000. Finally, Financial Perspectives Inc lifted its stake in Bunge Global by 585.0% in the fourth quarter. Financial Perspectives Inc now owns 685 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 585 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bunge Global Price Performance

BG stock opened at $72.72 on Tuesday. The firm has a 50 day simple moving average of $74.26 and a two-hundred day simple moving average of $83.52. The stock has a market cap of $9.74 billion, a PE ratio of 9.00, a P/E/G ratio of 2.66 and a beta of 0.67. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27.

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

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.