Illinois Municipal Retirement Fund Boosts Stock Holdings in Bunge Global SA (NYSE:BG)

Illinois Municipal Retirement Fund lifted its stake in shares of Bunge Global SA (NYSE:BG) by 41.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,038 shares of the basic materials company’s stock after acquiring an additional 29,218 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Bunge Global were worth $10,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Bunge Global by 0.3% in the third quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company’s stock valued at $1,989,285,000 after acquiring an additional 60,660 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Bunge Global by 28.9% in the third quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock valued at $318,509,000 after purchasing an additional 659,471 shares during the period. Northern Trust Corp lifted its position in Bunge Global by 2.8% in the third quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock valued at $299,103,000 after purchasing an additional 75,936 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Bunge Global by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,345,776 shares of the basic materials company’s stock valued at $145,680,000 after purchasing an additional 14,620 shares during the period. Finally, Royal Bank of Canada lifted its position in Bunge Global by 55.8% in the third quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock valued at $66,402,000 after purchasing an additional 219,819 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BG. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Robert W. Baird dropped their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their target price for the company from $122.00 to $105.00 in a report on Friday, February 9th. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, BMO Capital Markets dropped their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Bunge Global Stock Down 0.1 %

Shares of NYSE BG opened at $109.62 on Wednesday. Bunge Global SA has a 1 year low of $86.10 and a 1 year high of $116.59. The firm’s 50 day moving average price is $98.69 and its 200 day moving average price is $99.94. The firm has a market cap of $15.46 billion, a P/E ratio of 7.36 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.89. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. Bunge Global’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.24 earnings per share. As a group, sell-side analysts anticipate that Bunge Global SA will post 9.26 earnings per share for the current year.

About Bunge Global

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.