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

Bunge Global (NYSE:BG) had its price target boosted by equities researchers at Citigroup from $117.00 to $122.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s target price would suggest a potential upside of 17.24% from the stock’s previous close.

A number of other research firms have also recently commented on BG. BMO Capital Markets dropped their price objective on Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Barclays reduced their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. Roth Mkm reduced their price target on Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. The Goldman Sachs Group reduced their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Finally, Robert W. Baird reduced their price target on Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Bunge Global Price Performance

NYSE:BG traded down $1.73 during trading hours on Thursday, hitting $104.06. The company’s stock had a trading volume of 1,996,559 shares, compared to its average volume of 1,770,546. Bunge Global has a 52-week low of $86.10 and a 52-week high of $116.59. The company has a market capitalization of $14.67 billion, a PE ratio of 6.99 and a beta of 0.64. The business’s 50-day moving average is $99.28 and its two-hundred day moving average is $100.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter last year, the business posted $3.26 earnings per share. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. As a group, research analysts anticipate that Bunge Global will post 9.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P boosted its position in Bunge Global by 169.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 146 shares during the period. NewSquare Capital LLC acquired a new position in Bunge Global during the 4th quarter valued at approximately $37,000. Rise Advisors LLC boosted its position in Bunge Global by 40.6% during the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 117 shares during the period. Riverview Trust Co acquired a new position in Bunge Global during the 1st quarter valued at approximately $46,000. Finally, Ramirez Asset Management Inc. acquired a new position in Bunge Global during the 3rd quarter valued at approximately $54,000. 86.23% of the stock is currently owned by 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.