Bunge Global (NYSE:BG) Given New $87.00 Price Target at Bank of America

Bunge Global (NYSE:BG) had its target price cut by Bank of America from $105.00 to $87.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other research analysts have also recently issued reports on BG. Stephens cut their price target on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Barclays dropped their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.50.

Bunge Global Stock Up 1.2 %

Bunge Global stock opened at $70.02 on Tuesday. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 8.67 and a beta of 0.69. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $78.57 and a two-hundred day moving average of $88.94. Bunge Global has a twelve month low of $67.40 and a twelve month high of $114.92.

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 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%. As a group, research analysts expect that Bunge Global will post 7.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BG. Farther Finance Advisors LLC boosted its stake in shares of Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Bunge Global by 0.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company’s stock worth $2,305,000 after purchasing an additional 144 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Bunge Global by 3.7% during the third quarter. V Square Quantitative Management LLC now owns 4,367 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 156 shares in the last quarter. Caprock Group LLC boosted its position in Bunge Global by 2.2% during the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after purchasing an additional 164 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its holdings in Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 166 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.