Retirement Systems of Alabama Sells 2,041 Shares of Bunge Global SA (NYSE:BG)

Retirement Systems of Alabama lessened its holdings in shares of Bunge Global SA (NYSE:BG) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,020 shares of the basic materials company’s stock after selling 2,041 shares during the period. Retirement Systems of Alabama’s holdings in Bunge Global were worth $3,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Bunge Global during the third quarter valued at approximately $30,032,000. Royal Bank of Canada increased its position in Bunge Global by 55.8% during the 3rd quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock valued at $66,402,000 after purchasing an additional 219,819 shares during the period. Hsbc Holdings PLC raised its holdings in Bunge Global by 175.6% in the 3rd 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 in the last quarter. Barclays PLC lifted its position in shares of Bunge Global by 34.9% in the 3rd 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 period. Finally, Northern Trust Corp lifted its position in shares of Bunge Global by 2.8% in the 3rd quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock worth $299,103,000 after purchasing an additional 75,936 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BG. Barclays decreased their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, January 23rd. Robert W. Baird lowered their target price 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. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and reduced their price target for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. The Goldman Sachs Group lowered their price objective on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, BMO Capital Markets reduced their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Stock Performance

Shares of BG stock opened at $104.35 on Wednesday. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 8.40 and a beta of 0.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. Bunge Global SA has a one year low of $86.10 and a one year high of $116.59. The company’s 50-day moving average is $100.80 and its 200 day moving average is $99.89.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.26 earnings per share. Sell-side analysts expect that Bunge Global SA will post 9.03 EPS for the current fiscal year.

Bunge Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s dividend payout ratio is currently 21.34%.

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.