Bunge Global (NYSE:BG) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Bunge Global (NYSE:BG) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. BMO Capital Markets increased their price target on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $120.00 in a research report on Tuesday, December 16th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Bunge Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.67.

Bunge Global Trading Down 0.2%

NYSE BG opened at $115.08 on Tuesday. Bunge Global has a 12 month low of $67.40 and a 12 month high of $119.58. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $97.69 and a 200-day moving average of $89.46. The company has a market cap of $22.25 billion, a PE ratio of 12.39, a PEG ratio of 1.75 and a beta of 0.78.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 71.6% compared to the same quarter last year. On average, equities research analysts anticipate that Bunge Global will post 7.94 EPS for the current fiscal year.

Insider Activity

In other news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the sale, the vice president owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Institutional Trading of Bunge Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Bunge Global during the 3rd quarter worth approximately $25,000. CoreCap Advisors LLC boosted its stake in shares of Bunge Global by 2,000.0% in the third quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock valued at $26,000 after buying an additional 300 shares during the period. Cromwell Holdings LLC grew its position in Bunge Global by 4,175.0% during the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after buying an additional 334 shares in the last quarter. Quest 10 Wealth Builders Inc. acquired a new stake in Bunge Global during the fourth quarter worth approximately $27,000. Finally, Root Financial Partners LLC bought a new position in Bunge Global during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.