Bunge Global (NYSE:BG) Given New $87.00 Price Target at Bank of America

Bunge Global (NYSE:BG - Free Report) had its price target reduced by Bank of America from $105.00 to $87.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the basic materials company's stock.

A number of other research firms have also recently weighed in on BG. Stephens lowered their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Barclays reduced their price target on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Bunge Global Price Performance

Shares of BG traded up $0.40 during trading hours on Tuesday, reaching $70.19. 609,050 shares of the stock traded hands, compared to its average volume of 1,617,406. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global has a 52-week low of $67.40 and a 52-week high of $114.92. The company's 50-day moving average price is $77.90 and its two-hundred day moving average price is $88.67. The company has a market cap of $9.80 billion, a P/E ratio of 8.68 and a beta of 0.69.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, analysts anticipate that Bunge Global will post 7.75 earnings per share for the current year.

Institutional Trading of Bunge Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. AMF Tjanstepension AB increased its holdings in shares of Bunge Global by 59.3% in the 3rd quarter. AMF Tjanstepension AB now owns 106,384 shares of the basic materials company's stock worth $10,281,000 after buying an additional 39,600 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Bunge Global in the 3rd quarter worth about $1,167,000. Swedbank AB increased its holdings in shares of Bunge Global by 11.9% in the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company's stock worth $13,871,000 after buying an additional 15,241 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Bunge Global by 30.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 15,329 shares of the basic materials company's stock worth $1,481,000 after buying an additional 3,548 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of Bunge Global by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 10,000 shares of the basic materials company's stock worth $966,000 after buying an additional 8,000 shares during the last quarter. 86.23% of the stock is currently owned by 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.