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 lessened its holdings 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 institutional investor 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 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Bunge Global by 20.1% in the 1st quarter. American Century Companies Inc. now owns 290,540 shares of the basic materials company's stock valued at $22,203,000 after purchasing an additional 48,578 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bunge Global by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock valued at $255,756,000 after purchasing an additional 859,733 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Bunge Global by 67.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 16,485 shares of the basic materials company's stock valued at $1,260,000 after purchasing an additional 6,624 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Bunge Global in the 1st quarter valued at $258,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bunge Global by 197.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, Director Christopher Mahoney acquired 5,000 shares of the stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, with a total value of $408,650.00. Following the transaction, the director owned 7,164 shares in the company, 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 this hyperlink. Company insiders own 0.80% of the company's stock.

Bunge Global Trading Down 3.5%

NYSE:BG traded down $3.06 during trading hours on Tuesday, hitting $85.09. 2,425,504 shares of the company were exchanged, compared to its average volume of 2,237,112. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 6.58 and a beta of 0.67. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a one year low of $67.40 and a one year high of $101.81. The company has a fifty day simple moving average of $79.99 and a 200 day simple moving average of $77.42.

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, topping the consensus estimate of $1.19 by $0.12. The business had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.Bunge Global's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Sell-side analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stephens reduced their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. started coverage on Bunge Global in a report on Wednesday, August 20th. They set an "overweight" rating and a $95.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on Bunge Global from $74.00 to $83.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Bunge Global Company 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.