Bunge Global (NYSE:BG) Price Target Lowered to $74.00 at Morgan Stanley

Bunge Global (NYSE:BG - Free Report) had its price objective lowered by Morgan Stanley from $90.00 to $74.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company's stock.

A number of other equities analysts have also commented on BG. Bank of America decreased their price target on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday. Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Finally, Barclays decreased their price target on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Four 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

Bunge Global Price Performance

NYSE BG traded up $0.75 on Tuesday, hitting $70.54. The stock had a trading volume of 816,779 shares, compared to its average volume of 1,619,025. Bunge Global has a 52-week low of $67.40 and a 52-week high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.15. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 8.73 and a beta of 0.69. The firm has a 50-day moving average of $77.90 and a 200-day moving average of $88.67.

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

Hedge Funds Weigh In On Bunge Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. AMF Tjanstepension AB boosted its position in Bunge Global by 59.3% during the 3rd quarter. AMF Tjanstepension AB now owns 106,384 shares of the basic materials company's stock valued at $10,281,000 after buying an additional 39,600 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Bunge Global during the 3rd quarter valued at $1,167,000. Swedbank AB boosted its position in Bunge Global by 11.9% during the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company's stock valued at $13,871,000 after buying an additional 15,241 shares during the period. Vontobel Holding Ltd. boosted its position in Bunge Global by 30.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 15,329 shares of the basic materials company's stock valued at $1,481,000 after buying an additional 3,548 shares during the period. Finally, nVerses Capital LLC boosted its position in Bunge Global by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 10,000 shares of the basic materials company's stock valued at $966,000 after buying an additional 8,000 shares during the period. Institutional investors own 86.23% of the company's stock.

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.