Texas Permanent School Fund Corp Has $703,000 Stake in Bunge Global SA $BG

Texas Permanent School Fund Corp lowered its stake in Bunge Global SA (NYSE:BG) by 41.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,760 shares of the basic materials company’s stock after selling 6,157 shares during the period. Texas Permanent School Fund Corp’s holdings in Bunge Global were worth $703,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its stake in shares of Bunge Global by 6.8% in the 1st quarter. Ameriprise Financial Inc. now owns 651,900 shares of the basic materials company’s stock valued at $49,815,000 after buying an additional 41,563 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Bunge Global by 7.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,137 shares of the basic materials company’s stock valued at $1,386,000 after acquiring an additional 1,293 shares during the last quarter. SVB Wealth LLC acquired a new stake in Bunge Global in the first quarter worth about $38,000. Gabelli Funds LLC raised its holdings in Bunge Global by 11.1% during the 1st quarter. Gabelli Funds LLC now owns 13,000 shares of the basic materials company’s stock worth $993,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in Bunge Global during the 1st quarter valued at about $1,535,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Down 0.3%

Shares of NYSE BG opened at $88.27 on Friday. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $99.55. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 2.31 and a beta of 0.79. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average is $94.26 and its 200-day moving average is $85.61.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $22.46 billion. During the same quarter last year, the business posted $2.29 EPS. The firm’s revenue was up 71.6% compared to the same quarter last year. Equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Insider Activity at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the transaction, the vice president owned 104,537 shares in the company, valued at $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $95.00 to $120.00 in a research note on Tuesday, December 16th. BMO Capital Markets upped their target price on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Stephens raised their price target on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $105.00 to $120.00 in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $109.00.

Bunge Global Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.