Citigroup Raises Bunge Global (NYSE:BG) Price Target to $122.00

Bunge Global (NYSE:BG) had its price objective lifted by Citigroup from $117.00 to $122.00 in a research report sent to investors on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

BG has been the topic of several other reports. Roth Mkm cut their price objective on shares of Bunge Global from $161.00 to $138.00 and set a buy rating on the stock in a report on Monday, February 5th. StockNews.com lowered shares of Bunge Global from a buy rating to a hold rating in a report on Monday, February 26th. BMO Capital Markets cut their price objective on shares of Bunge Global from $130.00 to $120.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Wolfe Research lowered shares of Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. Finally, Robert W. Baird cut their price objective on shares of Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $121.00.

Bunge Global Stock Performance

Shares of NYSE:BG opened at $102.73 on Thursday. The firm has a market cap of $14.55 billion, a PE ratio of 8.27 and a beta of 0.64. The firm’s 50 day simple moving average is $99.50 and its 200-day simple moving average is $99.94. Bunge Global has a one year low of $86.10 and a one year high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.99.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. The business had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period last year, the company posted $3.26 earnings per share. As a group, equities analysts predict that Bunge Global will post 9.03 EPS for the current year.

Hedge Funds Weigh In On Bunge Global

Several institutional investors and hedge funds have recently bought and sold shares of BG. Loomis Sayles & Co. L P grew its holdings in Bunge Global by 169.8% in the third 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 acquired a new stake in shares of Bunge Global during the fourth quarter worth $37,000. Rise Advisors LLC lifted its stake in shares of Bunge Global by 40.6% during the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after buying an additional 117 shares during the period. Riverview Trust Co acquired a new stake in shares of Bunge Global during the first quarter worth $46,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Bunge Global during the third quarter worth $54,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.