Bunge Global (NYSE:BG) Trading Up 4.2% - Here's Why

Shares of Bunge Global SA (NYSE:BG - Get Free Report) rose 4.2% on Friday . The stock traded as high as $91.85 and last traded at $91.80. Approximately 1,777,314 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 1,563,366 shares. The stock had previously closed at $88.06.

Analyst Upgrades and Downgrades

Separately, Citigroup cut Bunge Global from a "buy" rating to a "neutral" rating and cut their price target for the stock 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.00.

Bunge Global Stock Up 2.9 %

The firm has a market cap of $12.65 billion, a P/E ratio of 11.47 and a beta of 0.67. The firm's 50-day moving average price is $93.00 and its 200 day moving average price is $100.33. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Bunge Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Bunge Global by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company's stock valued at $329,697,000 after acquiring an additional 45,159 shares during the period. Barclays PLC boosted its stake in Bunge Global by 17.2% during the 3rd quarter. Barclays PLC now owns 454,722 shares of the basic materials company's stock valued at $43,945,000 after purchasing an additional 66,681 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Bunge Global by 13.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 48,549 shares of the basic materials company's stock valued at $4,692,000 after purchasing an additional 5,676 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Bunge Global by 10.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,683 shares of the basic materials company's stock worth $646,000 after buying an additional 637 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Bunge Global in the third quarter valued at $888,000. 86.23% of the stock is currently owned by institutional investors.

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.