Bunge Global (NYSE:BG) Stock Price Up 5.9% - Should You Buy?

Bunge Global SA (NYSE:BG - Get Free Report) shares traded up 5.9% during mid-day trading on Friday . The stock traded as high as $82.00 and last traded at $81.94. 802,575 shares were traded during trading, a decline of 21% from the average session volume of 1,019,991 shares. The stock had previously closed at $77.38.

Wall Street Analysts Forecast Growth

Separately, Stephens raised shares of Bunge Global to a "strong-buy" rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.00.

Bunge Global Stock Up 5.1 %

The company has a market capitalization of $11.35 billion, a P/E ratio of 10.29 and a beta of 0.70. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $83.73 and a 200-day simple moving average of $94.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Bunge Global by 2.7% in the third quarter. Principal Financial Group Inc. now owns 177,218 shares of the basic materials company's stock valued at $17,126,000 after buying an additional 4,733 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Bunge Global by 5.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,983 shares of the basic materials company's stock valued at $2,898,000 after acquiring an additional 1,660 shares during the period. Franklin Resources Inc. increased its stake in shares of Bunge Global by 16.9% during the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company's stock worth $26,371,000 after purchasing an additional 39,646 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Bunge Global by 16.5% in the 3rd quarter. Synovus Financial Corp now owns 5,124 shares of the basic materials company's stock valued at $495,000 after purchasing an additional 724 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bunge Global in the 3rd quarter valued at about $34,000. 86.23% of the stock is 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.