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

Bunge Global (NYSE:BG) had its target price lowered by research analysts at Bank of America from $105.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective would indicate a potential upside of 25.89% from the company’s current price.

BG has been the topic of several other reports. Stephens dropped their price objective on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Barclays lowered their price target 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 investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.50.

Bunge Global Price Performance

Shares of NYSE BG opened at $69.11 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. 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 market cap of $9.65 billion, a PE ratio of 8.55 and a beta of 0.69. Bunge Global has a twelve month low of $67.40 and a twelve 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 earnings per share 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, analysts predict that Bunge Global will post 7.75 EPS for the current year.

Institutional Trading of Bunge Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its stake in Bunge Global by 16.9% during the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after acquiring an additional 39,646 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Bunge Global by 7.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 278 shares in the last quarter. Swedbank AB increased its position in shares of Bunge Global by 11.9% in the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after purchasing an additional 15,241 shares during the period. iA Global Asset Management Inc. acquired a new position in Bunge Global in the third quarter valued at about $888,000. Finally, State Street Corp lifted its position in Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after purchasing an additional 500,897 shares during the period. 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.