Bunge Global (NYSE:BG) Given a $83.00 Price Target at Morgan Stanley

Morgan Stanley set a $83.00 target price on Bunge Global (NYSE:BG) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the company. Citigroup increased their price target on Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Stephens cut their price objective on Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Bunge Global presently has a consensus rating of “Hold” and a consensus target price of $83.40.

Bunge Global Price Performance

NYSE BG opened at $82.54 on Tuesday. Bunge Global has a 1-year low of $67.40 and a 1-year high of $101.81. The business’s fifty day moving average price is $78.91 and its 200-day moving average price is $76.82. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 5.08 and a beta of 0.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company had revenue of $12.77 billion for the quarter, compared to analysts’ expectations of $12.57 billion. During the same period last year, the firm earned $1.73 EPS. Bunge Global’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Bunge Global will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a $0.70 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.4%. Bunge Global’s dividend payout ratio (DPR) is currently 27.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Bunge Global by 2.3% during the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock valued at $282,683,000 after buying an additional 80,082 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Bunge Global by 34.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock worth $255,756,000 after buying an additional 859,733 shares during the period. Invesco Ltd. raised its holdings in shares of Bunge Global by 3.8% in the first quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company’s stock worth $254,446,000 after buying an additional 122,931 shares during the period. Northern Trust Corp raised its holdings in shares of Bunge Global by 5.0% in the fourth quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company’s stock worth $184,167,000 after buying an additional 112,333 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Bunge Global by 2.1% in the second quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company’s stock worth $171,467,000 after buying an additional 43,343 shares during the period. 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.