Bunge Global SA $BG Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its stake in shares of Bunge Global SA (NYSE:BG) by 40.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,411 shares of the basic materials company’s stock after selling 55,742 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Bunge Global worth $6,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Bunge Global by 34.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock worth $255,756,000 after buying an additional 859,733 shares during the period. Invesco Ltd. raised its stake in Bunge Global by 3.8% in the 1st quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company’s stock worth $254,446,000 after acquiring an additional 122,931 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bunge Global by 6.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,603,669 shares of the basic materials company’s stock worth $122,552,000 after acquiring an additional 101,586 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Bunge Global during the 1st quarter valued at about $92,552,000. Finally, AQR Capital Management LLC increased its holdings in shares of Bunge Global by 80.5% in the first quarter. AQR Capital Management LLC now owns 995,507 shares of the basic materials company’s stock valued at $76,077,000 after purchasing an additional 443,893 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

NYSE:BG opened at $96.36 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The company has a 50 day moving average price of $87.23 and a 200-day moving average price of $82.36. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $99.55. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same quarter last year, the business earned $2.29 earnings per share. The firm’s revenue was up 71.6% on a year-over-year basis. Equities research analysts forecast that Bunge Global SA will post 7.94 EPS for the current year.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $81.73 per share, for a total transaction of $408,650.00. Following the purchase, the director directly owned 7,164 shares in the company, valued at approximately $585,513.72. This trade represents a 231.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BG has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. CICC Research lifted their price objective on shares of Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a research note on Monday, October 27th. JPMorgan Chase & Co. raised their target price on shares of Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Stephens upped their price target on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

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.