Bunge Global SA (NYSE:BG) Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Bunge Global SA (NYSE:BG) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,502 shares of the basic materials company’s stock after selling 2,307 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Bunge Global worth $11,625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BG. State Street Corp raised its holdings in shares of Bunge Global by 7.6% during the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after purchasing an additional 500,897 shares in the last quarter. Geode Capital Management LLC increased its position in 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 worth $329,697,000 after acquiring an additional 45,159 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Bunge Global by 13,459.9% during the 4th quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after purchasing an additional 2,934,656 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 50,615 shares during the period. Finally, abrdn plc boosted its stake in Bunge Global by 2.0% during the third quarter. abrdn plc now owns 608,837 shares of the basic materials company’s stock worth $58,990,000 after buying an additional 11,808 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BG shares. Barclays lowered their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Stephens lowered their price target on Bunge Global from $110.00 to $105.00 in a research report 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 on the stock in a report on Tuesday, February 11th. Finally, Bank of America cut their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Bunge Global Price Performance

Shares of BG stock opened at $70.54 on Tuesday. The stock’s fifty day moving average is $77.33 and its 200-day moving average is $87.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.15. The stock has a market capitalization of $9.85 billion, a PE ratio of 8.73 and a beta of 0.69. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. Equities research analysts expect that Bunge Global SA will post 7.75 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.