State of Alaska Department of Revenue Sells 8,470 Shares of Bunge Global SA (NYSE:BG)

State of Alaska Department of Revenue reduced its position in Bunge Global SA (NYSE:BG) by 25.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,819 shares of the basic materials company’s stock after selling 8,470 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bunge Global were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Bunge Global during the second quarter worth $28,000. Blue Trust Inc. raised its stake in Bunge Global by 52.3% during the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 102 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Bunge Global by 185.2% during the second quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Bunge Global during the second quarter valued at $40,000. Finally, Atlas Capital Advisors LLC raised its stake in Bunge Global by 261.3% during the second quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Down 1.7 %

Shares of BG opened at $82.62 on Friday. Bunge Global SA has a twelve month low of $82.45 and a twelve month high of $114.92. The company has a market cap of $11.70 billion, a P/E ratio of 10.46 and a beta of 0.64. The company has a current ratio of 2.07, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $95.66 and its 200-day simple moving average is $101.67.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, October 30th. The basic materials company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.11. Bunge Global had a net margin of 2.11% and a return on equity of 13.71%. The business had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.68 billion. As a group, analysts expect that Bunge Global SA will post 9.35 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bunge Global has an average rating of “Moderate Buy” and a consensus price target of $118.00.

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.