Bunge Global (NYSE:BG) Sets New 12-Month Low – Here’s What Happened

Bunge Global SA (NYSE:BG)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $82.18 and last traded at $83.10, with a volume of 27890 shares trading hands. The stock had previously closed at $84.00.

Analysts Set New Price Targets

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Up 1.1 %

The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 10.86 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. The business has a fifty day moving average price of $94.72 and a two-hundred day moving average price of $101.19.

Hedge Funds Weigh In On Bunge Global

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in shares of Bunge Global in the 2nd quarter valued at $28,000. Blue Trust Inc. boosted its holdings in Bunge Global by 52.3% in 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 during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Bunge Global by 185.2% in 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 during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Bunge Global during the 2nd quarter worth about $40,000. Finally, Atlas Capital Advisors LLC raised its stake in shares of Bunge Global by 261.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.