State of New Jersey Common Pension Fund D Has $9.18 Million Stake in Bunge Global SA (NYSE:BG)

State of New Jersey Common Pension Fund D trimmed its holdings in Bunge Global SA (NYSE:BGFree Report) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,814 shares of the basic materials company’s stock after selling 3,624 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Bunge Global worth $9,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors raised its position in Bunge Global by 0.4% during the second quarter. Capital World Investors now owns 20,071,889 shares of the basic materials company’s stock valued at $1,893,737,000 after purchasing an additional 76,544 shares in the last quarter. Vanguard Group Inc. raised its position in Bunge Global by 5.2% during the first quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock valued at $1,563,069,000 after purchasing an additional 696,806 shares in the last quarter. State Street Corp raised its position in Bunge Global by 1.4% during the second quarter. State Street Corp now owns 6,912,885 shares of the basic materials company’s stock valued at $652,231,000 after purchasing an additional 98,422 shares in the last quarter. Geode Capital Management LLC raised its position in Bunge Global by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,204,320 shares of the basic materials company’s stock valued at $301,543,000 after purchasing an additional 104,162 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $318,509,000 after purchasing an additional 659,471 shares in the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

Shares of NYSE BG opened at $88.54 on Monday. The firm’s 50-day moving average price is $97.20 and its 200-day moving average price is $104.79. Bunge Global SA has a 1-year low of $86.10 and a 1-year high of $116.59. The firm has a market capitalization of $12.86 billion, a P/E ratio of 5.95 and a beta of 0.62. The company has a current ratio of 2.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BGGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.89. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the business earned $3.24 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Bunge Global SA will post 9.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wolfe Research cut shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Citigroup assumed coverage on shares of Bunge Global in a research note on Thursday, February 1st. They set a “buy” rating and a $108.00 target price on the stock. The Goldman Sachs Group decreased their target price on shares of Bunge Global from $160.00 to $141.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Barclays reduced their price objective on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets reduced their price objective on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.11.

Check Out Our Latest Stock Report on BG

About Bunge Global

(Free Report)

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.

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Institutional Ownership by Quarter for Bunge Global (NYSE:BG)

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