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

Retirement Systems of Alabama lessened its stake in shares of Bunge Global SA (NYSE:BG) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,229 shares of the basic materials company’s stock after selling 495 shares during the period. Retirement Systems of Alabama’s holdings in Bunge Global were worth $2,351,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in Bunge Global by 16.9% during the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock valued at $26,371,000 after purchasing an additional 39,646 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Bunge Global by 7.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 278 shares in the last quarter. Swedbank AB raised its holdings in Bunge Global by 11.9% in the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after purchasing an additional 15,241 shares in the last quarter. iA Global Asset Management Inc. bought a new position in shares of Bunge Global in the 3rd quarter worth about $888,000. Finally, State Street Corp increased its stake in shares of Bunge Global by 7.6% in the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after acquiring an additional 500,897 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stephens cut their price objective on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Barclays dropped their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Bank of America dropped their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley dropped their price objective 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. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Bunge Global Price Performance

NYSE BG opened at $70.02 on Wednesday. Bunge Global SA has a 12 month low of $67.40 and a 12 month high of $114.92. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 8.67 and a beta of 0.69. The company’s 50 day moving average is $78.57 and its two-hundred day moving average is $88.94. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last released 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, research analysts anticipate that Bunge Global SA will post 7.75 earnings per share for the current 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.