Maryland State Retirement & Pension System Buys 108,091 Shares of Bunge Global SA $BG

Maryland State Retirement & Pension System grew its stake in Bunge Global SA (NYSE:BG) by 1,547.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 owned about 0.06% of Bunge Global worth $12,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Resource Council boosted its stake in shares of Bunge Global by 36.6% during the 3rd quarter. Advisor Resource Council now owns 5,344 shares of the basic materials company’s stock valued at $574,000 after purchasing an additional 1,432 shares in the last quarter. Ritholtz Wealth Management raised its stake in Bunge Global by 1,438.1% in the third quarter. Ritholtz Wealth Management now owns 56,679 shares of the basic materials company’s stock worth $5,953,000 after buying an additional 52,994 shares in the last quarter. Silver Grove Financial Group Inc. raised its stake in Bunge Global by 1,487.3% in the third quarter. Silver Grove Financial Group Inc. now owns 2,381 shares of the basic materials company’s stock worth $250,000 after buying an additional 2,231 shares in the last quarter. AMG National Trust Bank lifted its holdings in Bunge Global by 227.5% in the third quarter. AMG National Trust Bank now owns 31,327 shares of the basic materials company’s stock worth $3,308,000 after buying an additional 21,761 shares during the period. Finally, Keybank National Association OH lifted its holdings in Bunge Global by 2,644.2% in the third quarter. Keybank National Association OH now owns 566,174 shares of the basic materials company’s stock worth $59,441,000 after buying an additional 545,542 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bunge Global Price Performance

BG stock opened at $100.39 on Thursday. The firm has a 50 day moving average price of $108.08 and a 200-day moving average price of $116.52. Bunge Global SA has a 52-week low of $88.24 and a 52-week high of $134.87. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 16.87 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.50.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.15. The firm had revenue of $23.80 billion for the quarter, compared to analysts’ expectations of $23.28 billion. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.27 EPS. Equities research analysts forecast that Bunge Global SA will post 9.63 EPS for the current fiscal year.

Bunge Global Profile

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.