State of New Jersey Common Pension Fund D Cuts Stake in Bunge Global SA (NYSE:BG)

State of New Jersey Common Pension Fund D cut its holdings in shares of Bunge Global SA (NYSE:BG) by 37.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,301 shares of the basic materials company’s stock after selling 31,513 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bunge Global were worth $5,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BG. Private Advisor Group LLC lifted its holdings in Bunge Global by 97.8% during the fourth quarter. Private Advisor Group LLC now owns 5,033 shares of the basic materials company’s stock valued at $508,000 after purchasing an additional 2,489 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Bunge Global in the 4th quarter worth about $509,000. Envestnet Portfolio Solutions Inc. bought a new stake in Bunge Global in the 4th quarter worth about $233,000. Norges Bank bought a new stake in Bunge Global in the 4th quarter worth about $128,092,000. Finally, Wells Fargo & Company MN increased its holdings in Bunge Global by 0.9% in the 4th quarter. Wells Fargo & Company MN now owns 206,808 shares of the basic materials company’s stock worth $20,877,000 after buying an additional 1,788 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Up 1.0 %

Shares of NYSE:BG opened at $97.38 on Monday. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 7.84 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. The stock’s 50-day simple moving average is $102.83 and its two-hundred day simple moving average is $102.95. Bunge Global SA has a 52-week low of $86.10 and a 52-week high of $115.84.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share 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 company had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the firm earned $3.72 earnings per share. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. Analysts expect that Bunge Global SA will post 9.3 EPS for the current year.

Analyst Ratings Changes

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.