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

Bunge Global (NYSE:BG) had its price target raised by Citigroup from $117.00 to $122.00 in a research report sent to investors on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

A number of other research firms have also recently commented on BG. Roth Mkm lowered their price target on Bunge Global from $161.00 to $138.00 and set a buy rating for the company in a report on Monday, February 5th. HSBC raised shares of Bunge Global from a hold rating to a buy rating and decreased their price target for the company from $122.00 to $105.00 in a report on Friday, February 9th. Wolfe Research downgraded shares of Bunge Global from an outperform rating to a peer perform rating in a research note on Wednesday, January 10th. Robert W. Baird cut their target price on shares of Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a research report on Tuesday, January 23rd. Finally, StockNews.com downgraded Bunge Global from a buy rating to a hold rating in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Bunge Global currently has a consensus rating of Moderate Buy and an average target price of $121.00.

Bunge Global Trading Down 1.3 %

Shares of BG stock opened at $102.73 on Thursday. The stock has a 50 day simple moving average of $99.50 and a 200 day simple moving average of $99.96. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59. The company has a current ratio of 1.99, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The stock has a market cap of $14.55 billion, a P/E ratio of 8.27 and a beta of 0.64.

Bunge Global (NYSE:BG) last released its 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 17.49% and a net margin of 3.22%. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the company posted $3.26 EPS. The company’s revenue was down 12.5% compared to the same quarter last year. On average, research analysts predict that Bunge Global will post 9.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bunge Global

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $128,092,000. LSV Asset Management lifted its stake in Bunge Global by 86.8% during the 4th quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock valued at $144,435,000 after acquiring an additional 664,632 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Bunge Global by 28.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock worth $318,509,000 after acquiring an additional 659,471 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Bunge Global by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Bunge Global in the third quarter valued at about $30,032,000. Institutional investors and hedge funds 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.