Bank of America Lowers Bunge Global (NYSE:BG) Price Target to $87.00

Bunge Global (NYSE:BG) had its target price dropped by equities researchers at Bank of America from $105.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective points to a potential upside of 25.89% from the stock’s previous close.

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

Bunge Global Trading Down 1.2 %

NYSE:BG opened at $69.11 on Tuesday. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 8.55 and a beta of 0.69. Bunge Global has a 1-year low of $67.40 and a 1-year high of $114.92. The business’s 50-day moving average price is $78.22 and its two-hundred day moving average price is $88.80. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last released its quarterly earnings data 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%. On average, equities analysts expect that Bunge Global will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

Large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of 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 valued at $681,467,000 after acquiring an additional 500,897 shares in the last quarter. Geode Capital Management LLC boosted its position in Bunge Global by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company’s stock valued at $268,205,000 after purchasing an additional 34,890 shares during the last quarter. Pacer Advisors Inc. boosted its position in Bunge Global by 13,459.9% during 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 purchasing an additional 2,934,656 shares during the last quarter. Amundi grew its stake 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 purchasing an additional 490,153 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Bunge Global during the 4th quarter worth approximately $148,857,000. 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.