Bunge Global (NYSE:BG) Rating Lowered to Hold at Zacks Research

Bunge Global (NYSE:BG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

BG has been the subject of several other research reports. Citigroup reissued a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Stephens increased their price objective on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. UBS Group raised their target price on Bunge Global from $100.00 to $108.00 in a research note on Wednesday, December 24th. CICC Research upped their price target on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Finally, BMO Capital Markets raised their price objective on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and an average price target of $110.67.

Bunge Global Price Performance

Shares of BG stock traded down $0.70 during trading hours on Tuesday, reaching $114.60. The company had a trading volume of 503,208 shares, compared to its average volume of 1,748,290. Bunge Global has a 12-month low of $67.40 and a 12-month high of $119.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.76 and a beta of 0.78. The stock has a fifty day moving average of $97.24 and a 200-day moving average of $89.28.

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

Insider Transactions at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BG. Vanguard Group Inc. boosted its position in shares of Bunge Global by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 17,570,009 shares of the basic materials company’s stock valued at $1,565,136,000 after purchasing an additional 777,805 shares during the period. Concurrent Investment Advisors LLC lifted its stake in Bunge Global by 13.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,243 shares of the basic materials company’s stock valued at $289,000 after buying an additional 389 shares during the last quarter. U S Global Investors Inc. acquired a new stake in shares of Bunge Global in the fourth quarter valued at approximately $356,000. Legacy Capital Group California Inc. grew its position in shares of Bunge Global by 20.3% during the fourth quarter. Legacy Capital Group California Inc. now owns 6,139 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 1,036 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in Bunge Global in the 4th quarter valued at $202,000. Hedge funds and other institutional investors 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.