Public Employees Retirement System of Ohio Lowers Stock Position in Bunge Global SA (NYSE:BG)

Public Employees Retirement System of Ohio reduced its stake in Bunge Global SA (NYSE:BG - Free Report) by 31.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,717 shares of the basic materials company's stock after selling 26,010 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Bunge Global were worth $4,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in Bunge Global during the fourth quarter valued at approximately $148,857,000. Voloridge Investment Management LLC grew its position in Bunge Global by 443.2% during the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock valued at $94,503,000 after acquiring an additional 991,607 shares during the last quarter. Invesco Ltd. grew its position in Bunge Global by 28.6% during the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after acquiring an additional 713,561 shares during the last quarter. FMR LLC grew its position in Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock valued at $269,488,000 after acquiring an additional 699,889 shares during the last quarter. Finally, Man Group plc bought a new position in Bunge Global during the fourth quarter valued at approximately $50,561,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Bunge Global Trading Down 1.3%

NYSE:BG traded down $1.01 during trading hours on Friday, hitting $78.21. The company had a trading volume of 2,864,120 shares, compared to its average volume of 1,633,194. The company has a market capitalization of $10.51 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The stock 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 52 week low of $67.40 and a 52 week 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 - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.54. The business had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The firm's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 earnings per share. On average, equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, February 17th. Bunge Global's dividend payout ratio (DPR) is currently 35.53%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Stephens cut their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Citigroup raised their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Finally, Barclays cut their target price on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Bunge Global currently has an average rating of "Hold" and an average price target of $81.60.

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.