Retirement Systems of Alabama Sells 833 Shares of Bunge Global SA (NYSE:BG)

Retirement Systems of Alabama lowered its stake in Bunge Global SA (NYSE:BG) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,234 shares of the basic materials company’s stock after selling 833 shares during the period. Retirement Systems of Alabama’s holdings in Bunge Global were worth $3,335,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. CWM LLC raised its holdings in Bunge Global by 7.9% during the 4th quarter. CWM LLC now owns 2,668 shares of the basic materials company’s stock worth $269,000 after purchasing an additional 196 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Bunge Global during the 4th quarter worth approximately $62,000. Truist Financial Corp raised its stake in shares of Bunge Global by 146.4% during the fourth quarter. Truist Financial Corp now owns 63,366 shares of the basic materials company’s stock worth $6,397,000 after buying an additional 37,645 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Bunge Global by 20.9% during the fourth quarter. Russell Investments Group Ltd. now owns 62,394 shares of the basic materials company’s stock worth $6,304,000 after buying an additional 10,797 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in Bunge Global by 680.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,340 shares of the basic materials company’s stock valued at $218,000 after buying an additional 2,040 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 0.3 %

Shares of NYSE:BG opened at $100.32 on Wednesday. The company has a 50 day moving average price of $104.98 and a two-hundred day moving average price of $102.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 2.03. The company has a market capitalization of $14.20 billion, a PE ratio of 8.08 and a beta of 0.67. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $115.84.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the company earned $3.72 EPS. Bunge Global’s quarterly revenue was down 12.0% on a year-over-year basis. Analysts forecast that Bunge Global SA will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.00.

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.