State of New Jersey Common Pension Fund D Sells 5,930 Shares of Bunge Global SA $BG

Key Points

• The State of New Jersey Common Pension Fund D reduced its investment in Bunge Global SA by 11.9%, selling 5,930 shares, and now holds 43,992 shares valued at $3,362,000.
• Recent research reports indicate a positive outlook for Bunge Global, with JPMorgan Chase initiating coverage at an overweight rating and a target price of $95.00.
• Insider activity includes Director Christopher Mahoney purchasing 5,000 shares at an average price of $81.73, significantly increasing his ownership by 231.05%.

State of New Jersey Common Pension Fund D reduced its stake in Bunge Global SA (NYSE:BG - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,992 shares of the basic materials company's stock after selling 5,930 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Bunge Global were worth $3,362,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BG. SBI Securities Co. Ltd. grew its position in shares of Bunge Global by 12.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,239 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 135 shares in the last quarter. Allworth Financial LP grew its position in shares of Bunge Global by 18.4% during the first quarter. Allworth Financial LP now owns 940 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 146 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Bunge Global by 0.9% during the first quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company's stock valued at $1,321,000 after purchasing an additional 149 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Bunge Global by 2.1% during the first quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company's stock valued at $588,000 after purchasing an additional 158 shares in the last quarter. Finally, DoubleLine ETF Adviser LP grew its position in shares of Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company's stock valued at $615,000 after purchasing an additional 183 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Trading Up 4.4%

Shares of NYSE:BG traded up $3.6640 during trading hours on Friday, hitting $87.0640. 3,252,923 shares of the company's stock traded hands, compared to its average volume of 2,067,751. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $101.81. The business has a fifty day moving average price of $79.97 and a 200-day moving average price of $77.18. The firm has a market capitalization of $17.42 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 5.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The business had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. This represents a dividend yield of 342.0%. The ex-dividend date is Tuesday, August 19th. Bunge Global's payout ratio is 27.97%.

Insider Activity

In related news, Director Christopher Mahoney purchased 5,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $81.73 per share, with a total value of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares of the company's stock, valued at approximately $585,513.72. The trade was a 231.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BG shares. Stephens cut their price objective on Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. began coverage on Bunge Global in a research report on Wednesday. They issued an "overweight" rating and a $95.00 price target for the company. Finally, Morgan Stanley lifted their price target on Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $85.33.

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.