Bunge Global SA (NYSE:BG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bunge Global SA (NYSE:BG) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $116.33.

Several research firms recently issued reports on BG. Barclays cut shares of Bunge Global from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $115.00 to $95.00 in a research note on Tuesday, January 21st. Stephens raised shares of Bunge Global to a “strong-buy” rating in a report on Monday, December 2nd.

Institutional Investors Weigh In On Bunge Global

Hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in Bunge Global by 17.9% in the second quarter. Envestnet Asset Management Inc. now owns 125,647 shares of the basic materials company’s stock valued at $13,415,000 after buying an additional 19,095 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Bunge Global by 24.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,085 shares of the basic materials company’s stock valued at $634,000 after purchasing an additional 1,215 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Bunge Global by 15.3% in the 2nd quarter. Sei Investments Co. now owns 66,046 shares of the basic materials company’s stock valued at $7,051,000 after purchasing an additional 8,777 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Bunge Global by 10.5% in the 2nd quarter. ProShare Advisors LLC now owns 36,224 shares of the basic materials company’s stock valued at $3,868,000 after purchasing an additional 3,455 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Bunge Global by 60.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,240 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 1,971 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Down 0.7 %

NYSE:BG opened at $77.64 on Friday. The company’s 50 day moving average is $81.30 and its two-hundred day moving average is $91.50. The company has a market cap of $10.84 billion, a PE ratio of 9.83 and a beta of 0.70. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global has a twelve month low of $75.75 and a twelve month high of $114.92.

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.