Bunge Global SA (NYSE:BG) Short Interest Up 20.3% in December

Bunge Global SA (NYSE:BG) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 6,408,879 shares, a growth of 20.3% from the December 15th total of 5,326,450 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily volume of 1,329,014 shares, the short-interest ratio is currently 4.8 days. Based on an average daily volume of 1,329,014 shares, the short-interest ratio is currently 4.8 days. Approximately 3.3% of the company’s stock are short sold.

Bunge Global Stock Down 0.9%

NYSE BG traded down $1.00 during trading on Monday, hitting $107.83. 1,976,547 shares of the company traded hands, compared to its average volume of 1,410,863. Bunge Global has a 12 month low of $67.40 and a 12 month high of $108.84. The business has a fifty day simple moving average of $94.74 and a 200 day simple moving average of $87.54. The company has a market capitalization of $20.85 billion, a P/E ratio of 11.61, a PEG ratio of 1.63 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. As a group, sell-side analysts predict that Bunge Global will post 7.94 EPS for the current year.

Insider Activity

In related news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the sale, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by company insiders.

Institutional Trading of Bunge Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Glencore plc acquired a new position in Bunge Global in the 3rd quarter valued at $2,665,496,000. Vanguard Group Inc. boosted its holdings in Bunge Global by 0.7% during the third quarter. Vanguard Group Inc. now owns 16,792,204 shares of the basic materials company’s stock valued at $1,364,367,000 after acquiring an additional 125,001 shares during the period. Capital World Investors boosted its holdings in Bunge Global by 4.5% during the third quarter. Capital World Investors now owns 16,200,000 shares of the basic materials company’s stock valued at $1,316,299,000 after acquiring an additional 694,709 shares during the period. State Street Corp grew its position in shares of Bunge Global by 1.3% in the third quarter. State Street Corp now owns 6,921,322 shares of the basic materials company’s stock valued at $562,390,000 after purchasing an additional 85,873 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Bunge Global by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock worth $282,683,000 after purchasing an additional 80,082 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BG shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. UBS Group lifted their price objective on Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. Bank of America boosted their target price on Bunge Global from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Bunge Global currently has a consensus rating of “Buy” and an average price target of $109.78.

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.