New York State Teachers Retirement System Trims Position in Bunge Global SA $BG

New York State Teachers Retirement System reduced its holdings in Bunge Global SA (NYSE:BG) by 6.2% during the 3rd quarter, Holdings Channel reports. The fund owned 108,074 shares of the basic materials company’s stock after selling 7,112 shares during the period. New York State Teachers Retirement System’s holdings in Bunge Global were worth $8,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in Bunge Global during the second quarter valued at $149,380,000. Ilex Capital Partners UK LLP grew its position in Bunge Global by 383.7% during the 2nd quarter. Ilex Capital Partners UK LLP now owns 891,673 shares of the basic materials company’s stock worth $71,584,000 after purchasing an additional 707,336 shares during the period. Voya Investment Management LLC raised its stake in shares of Bunge Global by 719.2% during the 3rd quarter. Voya Investment Management LLC now owns 303,928 shares of the basic materials company’s stock valued at $24,694,000 after buying an additional 266,827 shares during the last quarter. Moore Capital Management LP purchased a new position in shares of Bunge Global during the 2nd quarter valued at about $12,463,000. Finally, AE Wealth Management LLC lifted its holdings in shares of Bunge Global by 1,596.3% in the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock valued at $13,162,000 after buying an additional 154,279 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Performance

NYSE:BG opened at $108.72 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The company has a fifty day moving average of $94.22 and a two-hundred day moving average of $87.06. The stock has a market capitalization of $21.02 billion, a PE ratio of 11.70, a P/E/G ratio of 1.60 and a beta of 0.78. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $108.84.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.04. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The company’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 earnings per share. As a group, research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the sale, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

BG has been the topic of several analyst reports. BMO Capital Markets raised their target price on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $105.00 to $120.00 in a research report on Thursday, November 6th. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a report on Tuesday, December 2nd. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $120.00 in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $109.78.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.