New York State Teachers Retirement System Cuts Holdings in Bunge Global SA $BG

New York State Teachers Retirement System lowered its stake in shares of Bunge Global SA (NYSE:BG) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 owned 0.05% of Bunge Global worth $8,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bayforest Capital Ltd purchased a new position in shares of Bunge Global in the 3rd quarter valued at $52,000. Oregon Public Employees Retirement Fund boosted its position in Bunge Global by 37.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,916 shares of the basic materials company’s stock valued at $1,293,000 after purchasing an additional 4,327 shares in the last quarter. Cromwell Holdings LLC grew its stake in Bunge Global by 46.2% in the third quarter. Cromwell Holdings LLC now owns 500 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 158 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Bunge Global by 4.1% in the third quarter. Nisa Investment Advisors LLC now owns 9,053 shares of the basic materials company’s stock worth $736,000 after purchasing an additional 354 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Bunge Global during the third quarter valued at about $241,000. Institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $94.37, for a total value of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Bunge Global Trading Up 3.1%

NYSE BG opened at $108.72 on Friday. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $108.84. The company has a fifty day simple moving average of $94.22 and a two-hundred day simple moving average of $87.06. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.02 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.60 and a beta of 0.78.

Bunge Global (NYSE:BG) last released 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 firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The firm’s revenue was up 71.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 EPS. On average, analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Wall Street Analyst Weigh In

BG has been the topic of a number of analyst reports. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $120.00 in a research report on Tuesday, December 16th. Zacks Research raised shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. JPMorgan Chase & Co. upped their price target on Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Stephens raised their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $109.78.

Bunge Global 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.