Bunge Global SA (NYSE:BG) Sees Significant Drop in Short Interest

Bunge Global SA (NYSE:BG) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 3,910,000 shares, a drop of 24.7% from the February 13th total of 5,190,000 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average trading volume of 1,670,000 shares, the short-interest ratio is presently 2.3 days.

Hedge Funds Weigh In On Bunge Global

Several hedge funds have recently made changes to their positions in BG. Spire Wealth Management purchased a new position in shares of Bunge Global during the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bunge Global during the third quarter worth about $34,000. Crews Bank & Trust purchased a new position in shares of Bunge Global during the fourth quarter worth about $39,000. R Squared Ltd purchased a new position in shares of Bunge Global during the fourth quarter worth about $45,000. Finally, Menard Financial Group LLC purchased a new position in shares of Bunge Global during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BG shares. Stephens reduced their price objective on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Bank of America reduced their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Barclays reduced their price objective 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. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Bunge Global Stock Performance

NYSE:BG opened at $74.71 on Wednesday. The firm has a market capitalization of $10.01 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. The business’s fifty day moving average price is $74.71 and its 200 day moving average price is $84.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, sell-side analysts anticipate that Bunge Global will post 7.94 earnings per share for the current fiscal year.

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.