Bunge Global SA (NYSE:BG) Receives $120.11 Average PT from Analysts

Bunge Global SA (NYSE:BG) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $118.00.

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $114.00 in a research report on Thursday, August 1st.

Insiders Place Their Bets

In related news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total value of $2,065,200.00. Following the sale, the insider now directly owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Bunge Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in Bunge Global by 0.8% in the 4th quarter. Arizona State Retirement System now owns 41,402 shares of the basic materials company’s stock worth $4,180,000 after purchasing an additional 311 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Bunge Global by 53.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 91,657 shares of the basic materials company’s stock valued at $9,314,000 after buying an additional 32,020 shares during the period. Nilsine Partners LLC bought a new position in Bunge Global in the 4th quarter valued at approximately $583,000. Allworth Financial LP boosted its position in Bunge Global by 56.5% during the 4th quarter. Allworth Financial LP now owns 1,033 shares of the basic materials company’s stock worth $104,000 after buying an additional 373 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Bunge Global by 11.4% during the 4th quarter. New York State Teachers Retirement System now owns 153,620 shares of the basic materials company’s stock worth $15,508,000 after acquiring an additional 15,675 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 1.8 %

Shares of Bunge Global stock opened at $97.40 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 2.03. The firm has a 50-day moving average of $107.01 and a 200-day moving average of $101.39. Bunge Global has a 52-week low of $86.10 and a 52-week high of $115.84. The stock has a market cap of $13.79 billion, a PE ratio of 7.84 and a beta of 0.67.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter last year, the firm earned $3.72 EPS. Bunge Global’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Bunge Global will post 9.4 EPS for the current year.

About Bunge Global

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.