Bunge Global (NYSE:BG) Shares Gap Down to $109.62

Bunge Global SA (NYSE:BG) gapped down prior to trading on Wednesday . The stock had previously closed at $109.62, but opened at $105.00. Bunge Global shares last traded at $105.36, with a volume of 654,479 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on BG. The Goldman Sachs Group dropped their price objective on shares of 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 cut Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Robert W. Baird decreased their price objective on Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Barclays cut their target price on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Finally, Roth Mkm decreased their price target on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Bunge Global Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13. The company’s fifty day moving average price is $99.28 and its 200-day moving average price is $100.01. The stock has a market cap of $14.67 billion, a P/E ratio of 6.99 and a beta of 0.64.

Bunge Global (NYSE:BG) last posted its quarterly earnings data 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. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period in the prior year, the company posted $3.26 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. Equities analysts forecast that Bunge Global SA will post 9.26 EPS for the current year.

Hedge Funds Weigh In On Bunge Global

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB lifted its position in shares of Bunge Global by 69.4% during the fourth quarter. Nordea Investment Management AB now owns 75,691 shares of the basic materials company’s stock worth $7,621,000 after purchasing an additional 30,999 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in Bunge Global by 1.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 9,305 shares of the basic materials company’s stock valued at $939,000 after buying an additional 165 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Bunge Global by 423.6% during the 4th quarter. SG Americas Securities LLC now owns 52,247 shares of the basic materials company’s stock valued at $5,274,000 after buying an additional 42,268 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Bunge Global in the 3rd quarter valued at about $2,706,000. Finally, Asset Management One Co. Ltd. grew its stake in Bunge Global by 53.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 91,657 shares of the basic materials company’s stock worth $9,314,000 after acquiring an additional 32,020 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.