Bunge Global SA (NYSE:BG) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Bunge Global SA (NYSE:BG - Free Report) by 68.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,919 shares of the basic materials company's stock after purchasing an additional 17,100 shares during the period. State of Alaska Department of Revenue's holdings in Bunge Global were worth $3,258,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in 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 valued at $681,467,000 after buying an additional 500,897 shares during the period. Geode Capital Management LLC raised its position in Bunge Global by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company's stock valued at $329,697,000 after purchasing an additional 45,159 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Bunge Global by 13,459.9% in the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company's stock valued at $229,894,000 after acquiring an additional 2,934,656 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bunge Global by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,621 shares of the basic materials company's stock worth $139,608,000 after acquiring an additional 50,615 shares during the period. Finally, abrdn plc grew its holdings in Bunge Global by 2.0% during the 3rd quarter. abrdn plc now owns 608,837 shares of the basic materials company's stock worth $58,990,000 after acquiring an additional 11,808 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BG shares. Barclays reduced their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Bank of America decreased their price objective on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday. Morgan Stanley cut their target price on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Stephens lowered their price objective on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.50.

Bunge Global Stock Performance

Bunge Global stock traded up $0.78 during trading hours on Thursday, hitting $69.85. 1,717,892 shares of the stock traded hands, compared to its average volume of 1,653,854. The firm's 50 day moving average price is $77.90 and its 200-day moving average price is $88.67. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 8.65 and a beta of 0.69. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.10.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, equities analysts expect that Bunge Global SA will post 7.75 EPS for the current fiscal year.

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.