Bunge Global (NYSE:BG) Shares Gap Down to $109.62

Bunge Global SA (NYSE:BG)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $109.62, but opened at $105.00. Bunge Global shares last traded at $105.36, with a volume of 654,479 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the company from $122.00 to $105.00 in a report on Friday, February 9th. The Goldman Sachs Group decreased their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Roth Mkm decreased their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a report on Monday, February 5th. Citigroup upped their target price on Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Barclays decreased their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Bunge Global Stock Performance

The stock has a market capitalization of $14.99 billion, a PE ratio of 7.36 and a beta of 0.64. The business has a 50 day moving average price of $98.69 and a 200 day moving average price of $99.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.89. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the prior year, the firm posted $3.24 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts expect that Bunge Global SA will post 9.26 earnings per share for the current year.

Institutional Investors Weigh In On Bunge Global

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Bunge Global by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after purchasing an additional 578,065 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Bunge Global by 28.9% in the third quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock worth $318,509,000 after purchasing an additional 659,471 shares during the last quarter. Northern Trust Corp boosted its position in Bunge Global by 2.8% in the third quarter. Northern Trust Corp now owns 2,763,072 shares of the basic materials company’s stock worth $299,103,000 after purchasing an additional 75,936 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Bunge Global by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,138,378 shares of the basic materials company’s stock worth $215,879,000 after purchasing an additional 42,592 shares during the last quarter. Finally, LSV Asset Management boosted its position in Bunge Global by 86.8% in the fourth quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock worth $144,435,000 after purchasing an additional 664,632 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.