Bunge Global (NYSE:BG) Downgraded by Citigroup to Neutral

Bunge Global (NYSE:BG) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports. They presently have a $114.00 target price on the basic materials company’s stock, down from their prior target price of $125.00. Citigroup’s price objective suggests a potential upside of 8.35% from the stock’s previous close.

Bunge Global Trading Down 8.2 %

Shares of Bunge Global stock opened at $105.21 on Thursday. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a market cap of $14.90 billion, a price-to-earnings ratio of 8.47 and a beta of 0.67. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $107.85 and its 200-day moving average price is $101.30.

Insider Transactions at Bunge Global

In other news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total value of $2,065,200.00. Following the sale, the insider now directly owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Bunge Global

Several hedge funds have recently bought and sold shares of BG. Norges Bank bought a new stake in Bunge Global during the fourth quarter valued at approximately $128,092,000. LSV Asset Management raised its stake in shares of Bunge Global by 86.8% during the fourth quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock worth $144,435,000 after acquiring an additional 664,632 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Bunge Global by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Bunge Global during the first quarter worth approximately $26,817,000. Finally, Franklin Resources Inc. raised its stake in shares of Bunge Global by 320.0% during the fourth quarter. Franklin Resources Inc. now owns 244,648 shares of the basic materials company’s stock worth $24,708,000 after acquiring an additional 186,395 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

About Bunge Global

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.