California Public Employees Retirement System Cuts Stake in Bunge Global SA $BG

California Public Employees Retirement System cut its stake in Bunge Global SA (NYSE:BG) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,636 shares of the basic materials company’s stock after selling 17,958 shares during the quarter. California Public Employees Retirement System owned approximately 0.29% of Bunge Global worth $30,879,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BG. Norges Bank purchased a new position in shares of Bunge Global in the second quarter valued at approximately $149,380,000. Dimensional Fund Advisors LP raised its stake in Bunge Global by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock valued at $255,756,000 after purchasing an additional 859,733 shares during the last quarter. Nuveen LLC purchased a new position in Bunge Global in the 1st quarter valued at $40,963,000. AQR Capital Management LLC boosted its stake in Bunge Global by 80.5% during the 1st quarter. AQR Capital Management LLC now owns 995,507 shares of the basic materials company’s stock worth $76,077,000 after purchasing an additional 443,893 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new stake in Bunge Global during the 1st quarter worth $19,920,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Bunge Global Stock Down 0.1%

Shares of NYSE BG opened at $91.40 on Thursday. The company has a market capitalization of $17.67 billion, a P/E ratio of 9.84, a P/E/G ratio of 2.38 and a beta of 0.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83. The company has a 50 day simple moving average of $92.86 and a 200-day simple moving average of $84.60. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $99.55.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. During the same period in the prior year, the business posted $2.29 earnings per share. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. On average, equities research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BG shares. Bank of America raised their price target on shares of Bunge Global from $95.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Morgan Stanley set a $95.00 target price on shares of Bunge Global in a research note on Monday, October 27th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Finally, Stephens boosted their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

About Bunge Global

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.