Bunge Global SA (NYSE:BG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Bunge Global SA (NYSE:BG) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on 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 target price for the stock from $125.00 to $114.00 in a report on Thursday, August 1st.

Hedge Funds Weigh In On Bunge Global

A number of hedge funds have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC purchased a new stake in shares of Bunge Global during the 1st quarter valued at about $2,137,000. Avantax Advisory Services Inc. bought a new stake in Bunge Global in the 1st quarter worth approximately $899,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Bunge Global by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,642 shares of the basic materials company’s stock valued at $20,319,000 after buying an additional 10,891 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in shares of Bunge Global by 2,975.7% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock valued at $8,249,000 after buying an additional 77,844 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Bunge Global by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock worth $4,247,000 after buying an additional 6,281 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

NYSE:BG opened at $101.38 on Thursday. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $104.67 and its 200 day simple moving average is $102.63. The stock has a market cap of $14.35 billion, a P/E ratio of 8.16 and a beta of 0.67. Bunge Global has a twelve month low of $86.10 and a twelve month high of $115.84.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm posted $3.72 EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, research analysts predict that Bunge Global will post 9.3 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.