Barclays Issues Pessimistic Forecast for Bunge Global (NYSE:BG) Stock Price

Bunge Global (NYSE:BG) had its price target lowered by Barclays from $95.00 to $85.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

Separately, Stephens cut their price objective on shares of Bunge Global from $110.00 to $105.00 in a report on Monday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.17.

Bunge Global Stock Performance

Shares of BG stock opened at $69.16 on Thursday. The company has a market cap of $9.66 billion, a P/E ratio of 8.75 and a beta of 0.69. The firm has a fifty day moving average price of $79.74 and a 200 day moving average price of $90.16. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a return on equity of 13.71% and a net margin of 2.11%. Sell-side analysts predict that Bunge Global will post 9.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BG. Pacer Advisors Inc. grew its position in shares of Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after acquiring an additional 2,934,656 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new stake in Bunge Global during the 3rd quarter worth $54,330,000. State Street Corp grew its position in Bunge Global by 7.6% during the 3rd 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 last quarter. SG Americas Securities LLC increased its stake in Bunge Global by 173.5% in the fourth quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company’s stock valued at $23,537,000 after purchasing an additional 191,999 shares during the period. Finally, Mizuho Securities USA LLC raised its holdings in shares of Bunge Global by 1,585.3% in the third quarter. Mizuho Securities USA LLC now owns 184,000 shares of the basic materials company’s stock valued at $17,782,000 after buying an additional 173,082 shares during 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.