914,291 Bunge Global SA $BG Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Bunge Global SA (NYSE:BG) by 3,204.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 942,823 shares of the basic materials company’s stock after purchasing an additional 914,291 shares during the quarter. Retirement Systems of Alabama’s holdings in Bunge Global were worth $98,970,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BG. Clark Wealth Partners raised its holdings in shares of Bunge Global by 3,657.1% during the 3rd quarter. Clark Wealth Partners now owns 263 shares of the basic materials company’s stock valued at $28,000 after buying an additional 256 shares during the period. Provenance Wealth Advisors LLC purchased a new position in Bunge Global in the 3rd quarter worth approximately $46,000. Ameritas Advisory Services LLC purchased a new position in Bunge Global in the 2nd quarter worth approximately $50,000. Hilltop National Bank purchased a new position in Bunge Global in the 2nd quarter worth approximately $63,000. Finally, Quest 10 Wealth Builders Inc. grew its position in Bunge Global by 54.0% in the third quarter. Quest 10 Wealth Builders Inc. now owns 622 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on BG. BMO Capital Markets reiterated an “outperform” rating and set a $150.00 price objective on shares of Bunge Global in a research note on Thursday, August 13th. UBS Group boosted their target price on shares of Bunge Global from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Zacks Research downgraded shares of Bunge Global from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Weiss Ratings raised shares of Bunge Global from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bunge Global from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bunge Global has a consensus rating of “Moderate Buy” and an average price target of $132.38.

Bunge Global Price Performance

BG stock opened at $101.00 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.50 and a debt-to-equity ratio of 0.50. Bunge Global SA has a 52-week low of $88.24 and a 52-week high of $134.87. The stock’s 50 day moving average is $108.83 and its two-hundred day moving average is $116.66. The company has a market capitalization of $19.41 billion, a PE ratio of 16.97 and a beta of 0.70.

Bunge Global (NYSE:BG) last announced its earnings results on Thursday, October 29th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.15. The company had revenue of $23.80 billion for the quarter, compared to analyst estimates of $23.28 billion. Bunge Global had a return on equity of 9.34% and a net margin of 1.24%. Bunge Global’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 EPS. Analysts predict that Bunge Global SA will post 9.63 earnings per share for the current fiscal year.

Bunge Global Company Profile

Bunge Global is an agribusiness and food company that connects farmers with customers around the world. Its activities include sourcing, storing, transporting and processing agricultural commodities, particularly oilseeds and grains.

The company produces vegetable oils, protein meals, specialty fats and other ingredients used in food, animal feed and renewable fuel markets. It also provides grain and oilseed merchandising and related supply-chain services.

Founded in 1818, Bunge expanded from its European origins into a global business.