Texas Permanent School Fund Corp Sells 6,157 Shares of Bunge Global SA $BG

Texas Permanent School Fund Corp reduced its stake in Bunge Global SA (NYSE:BG) by 41.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,760 shares of the basic materials company’s stock after selling 6,157 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Bunge Global were worth $703,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BG. Cromwell Holdings LLC lifted its holdings in shares of Bunge Global by 4,175.0% in the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 334 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Bunge Global in the 2nd quarter valued at approximately $29,000. CYBER HORNET ETFs LLC acquired a new position in Bunge Global during the 2nd quarter worth approximately $31,000. MUFG Securities EMEA plc bought a new position in shares of Bunge Global during the 2nd quarter worth approximately $32,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Bunge Global by 57.7% in the second quarter. Rakuten Securities Inc. now owns 481 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Activity at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. This represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America increased their target price on shares of Bunge Global from $95.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. JPMorgan Chase & Co. increased their price objective on shares of Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday. UBS Group boosted their price target on Bunge Global from $100.00 to $108.00 in a research report on Wednesday. Finally, Zacks Research upgraded Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Bunge Global has an average rating of “Buy” and a consensus price target of $109.00.

Bunge Global Price Performance

NYSE:BG opened at $88.27 on Friday. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55. The firm has a market capitalization 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 stock’s 50 day moving average price is $94.26 and its two-hundred day moving average price is $85.61. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57.

Bunge Global (NYSE:BG) last issued its earnings results 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 company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. On average, analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Company 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.