Bank of America Issues Pessimistic Forecast for Bunge Global (NYSE:BG) Stock Price

Bunge Global (NYSE:BG) had its price objective decreased by equities research analysts at Bank of America from $105.00 to $87.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective suggests a potential upside of 25.56% from the company’s current price.

Several other research firms also recently weighed in on BG. Stephens cut their price target on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Barclays cut their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Bunge Global Stock Performance

Shares of NYSE:BG traded up $0.13 during midday trading on Tuesday, reaching $69.29. 70,233 shares of the company traded hands, compared to its average volume of 1,579,593. The firm’s fifty day moving average price is $78.94 and its two-hundred day moving average price is $89.25. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 8.56 and a beta of 0.69.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS 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%. On average, equities analysts expect that Bunge Global will post 7.75 earnings per share for the current year.

Institutional Investors Weigh In On Bunge Global

Hedge funds have recently made changes to their positions in the stock. AMF Tjanstepension AB lifted its holdings in shares of Bunge Global by 59.3% during the 3rd quarter. AMF Tjanstepension AB now owns 106,384 shares of the basic materials company’s stock valued at $10,281,000 after purchasing an additional 39,600 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Bunge Global in the third quarter worth about $1,167,000. Swedbank AB grew its stake in shares of Bunge Global by 11.9% during the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after acquiring an additional 15,241 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Bunge Global by 30.1% during the third quarter. Vontobel Holding Ltd. now owns 15,329 shares of the basic materials company’s stock valued at $1,481,000 after acquiring an additional 3,548 shares in the last quarter. Finally, nVerses Capital LLC raised its position in shares of Bunge Global by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 10,000 shares of the basic materials company’s stock valued at $966,000 after purchasing an additional 8,000 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.