Bunge Global SA (NYSE:BG) Sees Significant Drop in Short Interest

Bunge Global SA (NYSE:BG) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 3,910,000 shares, a decline of 24.7% from the February 13th total of 5,190,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.0% of the shares of the stock are sold short.

Bunge Global Trading Up 0.2 %

BG opened at $74.71 on Wednesday. Bunge Global has a one year low of $67.40 and a one year high of $114.92. The stock has a market capitalization of $10.01 billion, a PE ratio of 9.25, a P/E/G ratio of 2.66 and a beta of 0.67. The business’s 50 day moving average price is $74.71 and its 200 day moving average price is $84.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, equities research analysts expect that Bunge Global will post 7.94 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays cut their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley dropped their price target on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Bank of America dropped their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Stephens dropped their price target on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BG. Caprock Group LLC lifted its stake in Bunge Global by 2.2% during the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after purchasing an additional 164 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Bunge Global by 3.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 170 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Bunge Global by 25.4% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 880 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 178 shares in the last quarter. DoubleLine ETF Adviser LP lifted its stake in Bunge Global by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 183 shares in the last quarter. Finally, Patton Albertson Miller Group LLC lifted its stake in Bunge Global by 0.3% during the third quarter. Patton Albertson Miller Group LLC now owns 56,444 shares of the basic materials company’s stock worth $5,455,000 after purchasing an additional 188 shares in the last quarter. 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.