Bunge Global (NYSE:BG) Sets New 52-Week Low – What’s Next?

Bunge Global SA (NYSE:BG)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $82.12 and last traded at $82.20, with a volume of 235318 shares changing hands. The stock had previously closed at $83.59.

Analysts Set New Price Targets

Separately, Stephens upgraded Bunge Global to a “strong-buy” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Bunge Global Stock Performance

The company has a market capitalization of $11.48 billion, a PE ratio of 10.58 and a beta of 0.68. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average is $89.31 and its two-hundred day moving average is $98.26.

Institutional Investors Weigh In On Bunge Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Bunge Global by 7.6% in the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after buying an additional 500,897 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after purchasing an additional 883,127 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bunge Global by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock valued at $329,697,000 after purchasing an additional 45,159 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bunge Global by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after purchasing an additional 121,080 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Bunge Global by 10.7% during the 2nd quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock valued at $225,629,000 after buying an additional 203,910 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other 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.