Bunge Global SA (NYSE:BG) Stock Holdings Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in shares of Bunge Global SA (NYSE:BG) by 1.6% during the third quarter, HoldingsChannel.com reports. The firm owned 30,724 shares of the basic materials company’s stock after selling 510 shares during the period. Retirement Systems of Alabama’s holdings in Bunge Global were worth $2,969,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its holdings in shares of Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after buying an additional 883,127 shares during the last quarter. Millennium Management LLC lifted its stake in Bunge Global by 12,617.1% in the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock valued at $94,557,000 after acquiring an additional 878,653 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in Bunge Global in the third quarter worth approximately $54,330,000. State Street Corp increased its stake in shares of Bunge Global by 7.6% during the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after purchasing an additional 500,897 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Bunge Global by 10.7% during the 2nd quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock worth $225,629,000 after purchasing an additional 203,910 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Price Performance

Shares of Bunge Global stock opened at $79.10 on Friday. Bunge Global SA has a 1-year low of $77.64 and a 1-year high of $114.92. The firm has a fifty day simple moving average of $87.60 and a 200-day simple moving average of $97.37. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 10.01 and a beta of 0.68.

Analysts Set New Price Targets

Separately, Stephens raised shares of Bunge Global to a “strong-buy” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bunge Global has an average rating of “Moderate Buy” and an average target price of $118.00.

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.