California State Teachers Retirement System Sells 9,954 Shares of Bunge Global SA (NYSE:BG)

California State Teachers Retirement System lessened its position in shares of Bunge Global SA (NYSE:BG) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,523 shares of the basic materials company’s stock after selling 9,954 shares during the period. California State Teachers Retirement System’s holdings in Bunge Global were worth $13,027,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC grew its holdings in Bunge Global by 17.2% in the third quarter. Barclays PLC now owns 454,722 shares of the basic materials company’s stock worth $43,945,000 after purchasing an additional 66,681 shares during the period. Janney Montgomery Scott LLC grew its holdings in Bunge Global by 32.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,425 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 1,076 shares during the period. Blue Trust Inc. grew its holdings in Bunge Global by 41.6% in the fourth quarter. Blue Trust Inc. now owns 932 shares of the basic materials company’s stock worth $72,000 after purchasing an additional 274 shares during the period. R Squared Ltd acquired a new stake in Bunge Global in the fourth quarter worth $45,000. Finally, Forsta AP Fonden grew its holdings in Bunge Global by 0.5% in the fourth quarter. Forsta AP Fonden now owns 96,000 shares of the basic materials company’s stock worth $7,465,000 after purchasing an additional 500 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 1.3%

Shares of NYSE BG opened at $78.21 on Friday. The stock has a market capitalization of $10.51 billion, a P/E ratio of 9.68, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a 50-day moving average price of $77.75 and a 200-day moving average price of $78.19. 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 1.27.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The company had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same period last year, the firm earned $3.04 earnings per share. The firm’s revenue was down 13.2% on a year-over-year basis. On average, equities research analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Tuesday, February 17th. Bunge Global’s payout ratio is currently 35.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BG shares. Morgan Stanley reduced their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Bank of America reduced their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Stephens reduced their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. 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 report on Thursday, February 6th. Finally, Citigroup lifted their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.60.

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.