Bunge Global (NYSE:BG) Downgraded to Hold Rating by Zacks Research

Bunge Global (NYSE:BG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on BG. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $95.00 to $120.00 in a research report on Tuesday, December 16th. CICC Research upped their target price on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Stephens lifted their price target on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their price objective on Bunge Global from $109.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Finally, Bank of America upped their target price on Bunge Global from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.67.

Bunge Global Trading Down 0.7%

NYSE:BG opened at $115.37 on Tuesday. The stock has a market capitalization of $22.31 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.76 and a beta of 0.78. Bunge Global has a 52 week low of $67.40 and a 52 week high of $118.50. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $97.24 and a 200 day moving average of $89.28.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.23 by $0.04. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The business’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 EPS. As a group, sell-side analysts anticipate that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Bunge Global

Several institutional investors have recently made changes to their positions in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in Bunge Global during the third quarter valued at $25,000. CoreCap Advisors LLC boosted its stake in shares of Bunge Global by 2,000.0% during the 3rd quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 300 shares in the last quarter. Cromwell Holdings LLC grew its position in shares of Bunge Global by 4,175.0% during the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 334 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Bunge Global during the 3rd quarter valued at about $28,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Bunge Global in the 2nd quarter valued at about $29,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

About Bunge Global

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.