Louisiana State Employees Retirement System Purchases New Stake in Bunge Global SA (NYSE:BG)

Louisiana State Employees Retirement System purchased a new stake in Bunge Global SA (NYSE:BG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,800 shares of the basic materials company’s stock, valued at approximately $888,000.

A number of other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Bunge Global by 28.9% during the third quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock worth $318,509,000 after purchasing an additional 659,471 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Bunge Global during the third quarter worth $30,032,000. Royal Bank of Canada raised its holdings in Bunge Global by 55.8% during the third quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock worth $66,402,000 after purchasing an additional 219,819 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Bunge Global by 175.6% during the third quarter. Hsbc Holdings PLC now owns 169,704 shares of the basic materials company’s stock worth $18,411,000 after purchasing an additional 108,128 shares during the last quarter. Finally, Barclays PLC raised its holdings in Bunge Global by 34.9% during the third quarter. Barclays PLC now owns 355,779 shares of the basic materials company’s stock worth $38,513,000 after purchasing an additional 92,073 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Barclays cut their price target on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. The Goldman Sachs Group cut their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Finally, Wolfe Research cut Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Bunge Global Price Performance

Shares of NYSE:BG opened at $104.06 on Friday. The company has a market cap of $14.67 billion, a P/E ratio of 6.99 and a beta of 0.64. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $116.59. The business has a fifty day simple moving average of $99.28 and a 200-day simple moving average of $100.01.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. The business had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 earnings per share. Equities research analysts forecast that Bunge Global SA will post 9.26 EPS 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.