Louisiana State Employees Retirement System Cuts Bunge Global SA (NYSE:BG) Holdings

Louisiana State Employees Retirement System cut its holdings in Bunge Global SA (NYSE:BG – Free Report ) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the basic materials company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Bunge Global were worth $854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its position in Bunge Global by 7.9% in the fourth quarter. CWM LLC now owns 2,668 shares of the basic materials company’s stock valued at $269,000 after acquiring an additional 196 shares in the last quarter. GAMMA Investing LLC bought a new position in Bunge Global in the fourth quarter valued at approximately $62,000. Truist Financial Corp raised its position in Bunge Global by 146.4% in the 4th quarter. Truist Financial Corp now owns 63,366 shares of the basic materials company’s stock worth $6,397,000 after buying an additional 37,645 shares during the period. Russell Investments Group Ltd. boosted its stake in Bunge Global by 20.9% in the fourth quarter. Russell Investments Group Ltd. now owns 62,394 shares of the basic materials company’s stock worth $6,304,000 after purchasing an additional 10,797 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Bunge Global by 680.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,340 shares of the basic materials company’s stock valued at $218,000 after purchasing an additional 2,040 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s shares.

Bunge Global Stock Performance

Shares of Bunge Global opened at $100.82 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10, and a current ratio of 2.03. The company has a market cap of $14.28 billion, a PE ratio of 8.12 and a beta of 0.67. The company has a 50-day moving average price of $104.94 and a 200-day moving average price of $102.30. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $115.84.

Bunge Global (NYSE:BG – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. In the same quarter last year, the company earned $3.72 per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities analysts forecast that Bunge Global SA will post 9.4 earnings per share for the current year.

Changes in Analyst Ratings

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $118.00, according to MarketBeat.com.

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Bunge Global Company Profile

(Free Report)

Bunge Global SA operates worldwide as an agribusiness and food company. 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 commodities, including oilseeds, primarily soybeans, canola, canola and sunflower seeds, and grains including wheat and corn; and processes oilseeds into vegetable oils and protein meals.

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