Bunge Global (NYSE:BG) Shares Up 5.9% – Here’s What Happened

Shares of Bunge Global SA (NYSE:BG) were up 5.9% during mid-day trading on Friday . The stock traded as high as $82.00 and last traded at $81.94. Approximately 802,575 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 1,019,991 shares. The stock had previously closed at $77.38.

Analyst Ratings Changes

Separately, Stephens raised shares of Bunge Global to a “strong-buy” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Stock Performance

The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 10.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. The stock’s 50-day moving average is $83.73 and its 200-day moving average is $94.61.

Institutional Investors Weigh In On Bunge Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in BG. Altshuler Shaham Ltd bought a new position in Bunge Global during the 2nd quarter valued at $28,000. Wilmington Savings Fund Society FSB bought a new position in Bunge Global in the 3rd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Bunge Global in the 2nd quarter valued at approximately $40,000. Farther Finance Advisors LLC raised its stake in Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 124 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Bunge Global by 145.1% during the third quarter. UMB Bank n.a. now owns 652 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 386 shares during the period. 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.