Bunge Global (NYSE:BG) Sees Strong Trading Volume - Time to Buy?

Bunge Global SA (NYSE:BG - Get Free Report) shares saw strong trading volume on Monday . 936,168 shares changed hands during mid-day trading, a decline of 40% from the previous session's volume of 1,567,471 shares.The stock last traded at $69.31 and had previously closed at $69.60.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BG. Morgan Stanley reduced their price objective on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday. Stephens reduced their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Bank of America decreased their target price on Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.50.

Bunge Global Stock Up 1.1 %

The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $77.90 and a 200 day moving average of $88.67. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 8.65 and a beta of 0.69.

Bunge Global (NYSE:BG - Get Free Report) last issued its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, sell-side analysts predict that Bunge Global SA will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management bought a new stake in Bunge Global in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bunge Global in the third quarter worth $34,000. Crews Bank & Trust purchased a new position in shares of Bunge Global in the fourth quarter valued at $39,000. Farther Finance Advisors LLC lifted its position in Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company's stock worth $42,000 after buying an additional 124 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Bunge Global in the fourth quarter worth about $45,000. 86.23% of the stock is currently 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.