New York State Teachers Retirement System lowered its holdings in Bunge Global SA (NYSE:BG – Free Report) by 0.5% during the third quarter, HoldingsChannel.com reports. The fund owned 151,809 shares of the basic materials company’s stock after selling 762 shares during the period. New York State Teachers Retirement System’s holdings in Bunge Global were worth $14,671,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in shares of Bunge Global by 26.5% during the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after buying an additional 883,127 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bunge Global by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after buying an additional 121,080 shares during the last quarter. LSV Asset Management raised its holdings in shares of Bunge Global by 10.7% during the second quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock valued at $225,629,000 after buying an additional 203,910 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Bunge Global by 23.4% during the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock valued at $103,576,000 after buying an additional 184,245 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Bunge Global by 12,617.1% during the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock valued at $94,557,000 after buying an additional 878,653 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and cut their price target for the company 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.00.
Bunge Global Stock Performance
BG opened at $82.62 on Friday. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 10.46 and a beta of 0.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 0.97. Bunge Global SA has a 1-year low of $82.45 and a 1-year high of $114.92. The business has a 50 day moving average price of $95.66 and a two-hundred day moving average price of $101.67.
Bunge Global (NYSE:BG – Get Free Report) last released its earnings results on Wednesday, October 30th. The basic materials company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.11. The firm had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.68 billion. Bunge Global had a return on equity of 13.71% and a net margin of 2.11%. Research analysts predict that Bunge Global SA will post 9.35 EPS for the current fiscal year.
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.
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