Louisiana State Employees Retirement System Invests $888,000 in Bunge Global SA (NYSE:BG)

Louisiana State Employees Retirement System bought a new position in shares of Bunge Global SA (NYSE:BG) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,800 shares of the basic materials company’s stock, valued at approximately $888,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Bunge Global by 69.4% in the 4th quarter. Nordea Investment Management AB now owns 75,691 shares of the basic materials company’s stock valued at $7,621,000 after purchasing an additional 30,999 shares during the last quarter. SG Americas Securities LLC raised its stake in Bunge Global by 423.6% in the 4th quarter. SG Americas Securities LLC now owns 52,247 shares of the basic materials company’s stock valued at $5,274,000 after purchasing an additional 42,268 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Bunge Global in the 3rd quarter valued at $2,706,000. Asset Management One Co. Ltd. raised its stake in Bunge Global by 53.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 91,657 shares of the basic materials company’s stock valued at $9,314,000 after purchasing an additional 32,020 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Bunge Global by 11.4% in the 4th quarter. New York State Teachers Retirement System now owns 153,620 shares of the basic materials company’s stock valued at $15,508,000 after purchasing an additional 15,675 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

NYSE BG opened at $104.06 on Friday. The stock has a market cap of $14.67 billion, a PE ratio of 6.99 and a beta of 0.64. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $116.59. The stock 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 released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company’s revenue was down 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 EPS. Equities analysts anticipate that Bunge Global SA will post 9.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird reduced their price objective on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. The Goldman Sachs Group dropped their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Barclays dropped their target price on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Citigroup upped their target price on Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wolfe Research cut Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Four 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 an average price target of $121.00.

Bunge Global Company 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.