New York State Teachers Retirement System Cuts Holdings in Bunge Global SA (NYSE:BG)

New York State Teachers Retirement System decreased its holdings in Bunge Global SA (NYSE:BG) by 13.1% in the 1st quarter, HoldingsChannel reports. The fund owned 129,959 shares of the basic materials company’s stock after selling 19,543 shares during the quarter. New York State Teachers Retirement System’s holdings in Bunge Global were worth $9,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new position in Bunge Global in the 4th quarter valued at approximately $2,253,000. US Bancorp DE grew its holdings in Bunge Global by 33.3% in the fourth quarter. US Bancorp DE now owns 5,281 shares of the basic materials company’s stock valued at $411,000 after purchasing an additional 1,320 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Bunge Global by 15.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,655 shares of the basic materials company’s stock valued at $129,000 after buying an additional 225 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Bunge Global during the 4th quarter worth $86,000. Finally, State of Michigan Retirement System raised its stake in shares of Bunge Global by 10.6% during the 4th quarter. State of Michigan Retirement System now owns 48,000 shares of the basic materials company’s stock worth $3,732,000 after buying an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Down 3.7%

BG opened at $78.37 on Friday. The firm has a market cap of $10.53 billion, a P/E ratio of 9.95, a PEG ratio of 4.04 and a beta of 0.67. The business’s fifty day simple moving average is $79.70 and its 200 day simple moving average is $77.03. 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 released its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. The company had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. As a group, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global’s dividend payout ratio (DPR) is 35.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BG shares. Citigroup increased their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Stephens lowered their price target on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.60.

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.