Bunge Global (NYSE:BG) Given New $74.00 Price Target at Morgan Stanley

Bunge Global (NYSE:BG) had its price target trimmed by Morgan Stanley from $90.00 to $74.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

BG has been the subject of a number of other research reports. Bank of America dropped their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. Barclays dropped their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Stephens reduced their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Bunge Global Trading Up 1.2 %

Shares of Bunge Global stock opened at $70.02 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $78.57 and its 200-day simple moving average is $88.94. The stock has a market cap of $9.78 billion, a P/E ratio of 8.67 and a beta of 0.69. Bunge Global has a 1-year low of $67.40 and a 1-year high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings data 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%. Analysts predict that Bunge Global will post 7.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently made changes to their positions in BG. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 124 shares during the period. NorthCrest Asset Manangement LLC lifted its stake 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 in the last quarter. V Square Quantitative Management LLC boosted its position in shares of 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 buying an additional 156 shares during the period. Caprock Group LLC grew its stake in shares of Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after buying an additional 164 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Bunge Global by 31.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after buying an additional 166 shares during the period. 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.