Bunge Global (NYSE:BG) Given New $122.00 Price Target at Citigroup

Bunge Global (NYSE:BG) had its price objective lifted by Citigroup from $117.00 to $122.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

BG has been the subject of several other research reports. The Goldman Sachs Group cut their price objective on Bunge Global from $141.00 to $126.00 and set a buy rating for the company in a report on Tuesday, February 13th. Wolfe Research downgraded Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. HSBC raised Bunge Global from a hold rating to a buy rating and cut their price objective for the company from $122.00 to $105.00 in a report on Friday, February 9th. BMO Capital Markets reduced their price objective on shares of Bunge Global from $130.00 to $120.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Finally, Robert W. Baird dropped their price objective on shares of Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $121.00.

Bunge Global Stock Down 1.1 %

Shares of BG traded down $1.17 on Thursday, hitting $102.89. The company’s stock had a trading volume of 56,012 shares, compared to its average volume of 1,749,152. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $99.28 and its 200-day moving average price is $100.01. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.26 EPS. On average, equities research analysts expect that Bunge Global will post 9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BG. Loomis Sayles & Co. L P increased its holdings in shares of Bunge Global by 169.8% during the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 146 shares during the period. NewSquare Capital LLC acquired a new stake in Bunge Global in the fourth quarter valued at approximately $37,000. Rise Advisors LLC boosted its position in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after buying an additional 117 shares in the last quarter. Riverview Trust Co acquired a new stake in Bunge Global in the first quarter valued at approximately $46,000. Finally, Ramirez Asset Management Inc. acquired a new stake in Bunge Global in the third quarter valued at approximately $54,000. 86.23% of the stock is owned by 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.