State of Michigan Retirement System Has $3.73 Million Stake in Bunge Global SA (NYSE:BG)

State of Michigan Retirement System grew its position in Bunge Global SA (NYSE:BG - Free Report) by 10.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,000 shares of the basic materials company's stock after purchasing an additional 4,600 shares during the period. State of Michigan Retirement System's holdings in Bunge Global were worth $3,732,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased 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 purchasing an additional 2,934,656 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Bunge Global in the 3rd quarter valued at about $54,330,000. State Street Corp boosted its stake 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 worth $681,467,000 after acquiring an additional 500,897 shares during the last quarter. SG Americas Securities LLC grew its holdings in Bunge Global by 173.5% during the fourth quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company's stock valued at $23,537,000 after purchasing an additional 191,999 shares during the period. Finally, Mizuho Securities USA LLC raised its holdings in Bunge Global by 1,585.3% in the third quarter. Mizuho Securities USA LLC now owns 184,000 shares of the basic materials company's stock worth $17,782,000 after purchasing an additional 173,082 shares during the period. 86.23% of the stock is owned by institutional investors.

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Bunge Global Stock Down 2.6 %

Shares of NYSE:BG traded down $1.95 during mid-day trading on Tuesday, reaching $74.36. 1,783,467 shares of the stock were exchanged, compared to its average volume of 1,649,619. The stock's 50 day simple moving average is $75.14 and its 200-day simple moving average is $85.37. Bunge Global SA has a one year low of $67.40 and a one year high of $114.92. The company has a market cap of $9.96 billion, a P/E ratio of 9.20, a P/E/G ratio of 2.66 and a beta of 0.67. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 research analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Wall Street Analyst Weigh In

BG has been the subject of a number of recent analyst reports. Barclays lowered 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 report on Thursday, February 6th. Bank of America dropped their price target on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley decreased their price objective on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Finally, Stephens dropped their target price on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $93.00.

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.