Bunge Global (NYSE:BG) Sees Unusually-High Trading Volume – Time to Buy?

Bunge Global SA (NYSE:BG) saw unusually-strong trading volume on Monday . Approximately 936,168 shares changed hands during mid-day trading, a decline of 40% from the previous session’s volume of 1,567,471 shares.The stock last traded at $69.31 and had previously closed at $69.60.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BG shares. Bank of America cut their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley cut their target price on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Stephens cut their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Barclays cut their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.50.

Bunge Global Price Performance

The firm has a market cap of $9.78 billion, a PE ratio of 8.67 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $78.57 and a two-hundred day moving average price of $88.94.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. As a group, equities analysts expect that Bunge Global SA will post 7.75 earnings per share for the current year.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors and hedge funds have recently modified their holdings of BG. Pacer Advisors Inc. lifted its holdings in Bunge Global by 13,459.9% in the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock valued at $229,894,000 after acquiring an additional 2,934,656 shares during the period. Ilex Capital Partners UK LLP acquired a new position in Bunge Global in the third quarter valued at approximately $54,330,000. State Street Corp lifted its holdings in 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 acquiring an additional 500,897 shares during the period. Amundi lifted its holdings in Bunge Global by 24.9% in the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock valued at $190,476,000 after acquiring an additional 490,153 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Bunge Global by 173.5% in the fourth quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company’s stock valued at $23,537,000 after acquiring an additional 191,999 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.