Bunge Global SA (NYSE:BG) Short Interest Update

Bunge Global SA (NYSE:BG - Get Free Report) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,910,000 shares, a decrease of 24.7% from the February 13th total of 5,190,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Several research firms have recently commented on BG. Bank of America dropped their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Stephens cut their price target on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Barclays reduced their price objective on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BG. Franklin Resources Inc. lifted its holdings in Bunge Global by 16.9% in the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company's stock valued at $26,371,000 after purchasing an additional 39,646 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Bunge Global by 7.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock worth $302,000 after buying an additional 278 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Bunge Global by 39.6% during the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock worth $1,665,000 after acquiring an additional 6,077 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Bunge Global during the 3rd quarter worth approximately $888,000. Finally, State Street Corp increased its holdings in shares of Bunge Global by 7.6% in the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company's stock valued at $681,467,000 after purchasing an additional 500,897 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

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Bunge Global Price Performance

BG traded down $1.21 during trading on Thursday, hitting $74.03. The company's stock had a trading volume of 1,001,060 shares, compared to its average volume of 1,459,931. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 2.66 and a beta of 0.67. Bunge Global has a twelve month low of $67.40 and a twelve month high of $114.92. The business's fifty day simple moving average is $74.67 and its 200 day simple moving average is $84.19. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) 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, equities research analysts forecast that Bunge Global will post 7.94 EPS for the current fiscal year.

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.