Bunge Global SA (NYSE:BG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of Bunge Global SA (NYSE:BG) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,684 shares of the basic materials company’s stock after selling 1,545 shares during the quarter. Retirement Systems of Alabama’s holdings in Bunge Global were worth $2,192,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Bunge Global by 9.5% during the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company’s stock valued at $18,815,000 after acquiring an additional 20,942 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bunge Global during the fourth quarter valued at about $2,253,000. Colrain Capital LLC acquired a new position in shares of Bunge Global during the fourth quarter valued at about $2,799,000. Siemens Fonds Invest GmbH acquired a new position in shares of Bunge Global during the fourth quarter valued at about $1,596,000. Finally, Assetmark Inc. increased its holdings in shares of Bunge Global by 8.3% during the fourth quarter. Assetmark Inc. now owns 20,120 shares of the basic materials company’s stock valued at $1,565,000 after acquiring an additional 1,547 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of NYSE BG opened at $82.26 on Thursday. The business’s 50 day moving average price is $79.58 and its 200 day moving average price is $77.16. The firm has a market cap of $11.06 billion, a P/E ratio of 10.44, a P/E/G ratio of 4.15 and a beta of 0.68. Bunge Global SA has a 52 week low of $67.40 and a 52 week high of $114.92. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 0.41.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. The firm had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a return on equity of 9.98% and a net margin of 2.13%. Bunge Global’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 earnings per share. On average, sell-side analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.40%. Bunge Global’s dividend payout ratio is presently 35.53%.

Analysts Set New Price Targets

BG has been the topic of several recent analyst reports. Stephens cut their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Citigroup upped their target price on Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $81.60.

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.