Bunge Global (NYSE:BG) Reaches New 12-Month Low - Here's Why

Bunge Global SA (NYSE:BG - Get Free Report) hit a new 52-week low during trading on Tuesday . The company 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 lowered Bunge Global from a "buy" rating to a "neutral" rating and cut their target price for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $118.00.

Bunge Global Stock Up 0.9 %

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 firm has a 50 day simple moving average of $95.33 and a 200-day simple moving average of $101.47. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 10.56 and a beta of 0.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of Bunge Global by 26.5% during the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company's stock worth $449,614,000 after purchasing an additional 883,127 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Bunge Global by 12,617.1% in the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company's stock valued at $94,557,000 after purchasing an additional 878,653 shares during the last quarter. LSV Asset Management raised its holdings in shares of Bunge Global by 33.4% in the first quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company's stock valued at $195,743,000 after purchasing an additional 478,559 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Bunge Global in the first quarter valued at approximately $26,817,000. Finally, AQR Capital Management LLC raised its holdings in shares of Bunge Global by 23.4% in the second quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company's stock valued at $103,576,000 after purchasing an additional 184,245 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.