Retirement Systems of Alabama Cuts Stock Position in Bunge Global SA (NYSE:BG)

Retirement Systems of Alabama cut its holdings in Bunge Global SA (NYSE:BG) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 30,229 shares of the basic materials company’s stock after selling 495 shares during the quarter. Retirement Systems of Alabama’s holdings in Bunge Global were worth $2,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp boosted its stake in Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after buying an additional 500,897 shares during the period. Geode Capital Management LLC boosted its stake in shares of Bunge Global by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock valued at $329,697,000 after purchasing an additional 45,159 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock valued at $229,894,000 after purchasing an additional 2,934,656 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Bunge Global by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company’s stock valued at $139,608,000 after purchasing an additional 50,615 shares during the period. Finally, abrdn plc boosted its stake in shares of Bunge Global by 2.0% during the third quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock valued at $58,990,000 after purchasing an additional 11,808 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BG. Stephens lowered their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday. Bank of America lowered their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Barclays decreased their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Bunge Global Stock Performance

BG stock opened at $70.02 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.10. The business has a 50-day moving average price of $78.57 and a 200 day moving average price of $88.94. The company has a market capitalization of $9.78 billion, a P/E ratio of 8.67 and a beta of 0.69. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $114.92.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. As a group, equities research analysts forecast that Bunge Global SA will post 7.75 EPS for the current fiscal year.

Bunge Global Company 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.