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

Bunge Global SA (NYSE:BG)’s share price gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

BG has been the subject of several analyst reports. Roth Mkm dropped their price objective on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a report on Monday, February 5th. StockNews.com downgraded shares of Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Citigroup boosted their target price on shares of Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, Barclays decreased their price objective on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Bunge Global Trading Down 3.0 %

The business’s 50 day simple moving average is $98.69 and its two-hundred day simple moving average is $99.94. The stock has a market cap of $14.99 billion, a P/E ratio of 7.36 and a beta of 0.64. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.89. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the company posted $3.24 EPS. Bunge Global’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, analysts expect that Bunge Global SA will post 9.26 EPS for the current year.

Institutional Trading of Bunge Global

A number of institutional investors and hedge funds have recently bought and sold shares of BG. Loomis Sayles & Co. L P raised its holdings in Bunge Global by 169.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 146 shares during the last quarter. NewSquare Capital LLC bought a new position in Bunge Global during the 4th quarter worth approximately $37,000. Rise Advisors LLC raised its holdings in Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 117 shares during the last quarter. Riverview Trust Co bought a new position in Bunge Global during the 1st quarter worth approximately $46,000. Finally, Ramirez Asset Management Inc. bought a new position in Bunge Global during the 3rd quarter worth approximately $54,000. 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.