Bunge Global SA (NYSE:BG) Short Interest Update

Bunge Global SA (NYSE:BG) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,340,000 shares, a growth of 32.7% from the July 31st total of 3,270,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.1% of the company’s shares are short sold.

Bunge Global Stock Up 0.3 %

Bunge Global stock opened at $101.38 on Friday. The stock has a market cap of $14.36 billion, a PE ratio of 8.16 and a beta of 0.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. The stock’s fifty day moving average is $104.81 and its two-hundred day moving average is $102.46. Bunge Global has a 1-year low of $86.10 and a 1-year high of $115.84.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The company had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.72 earnings per share. On average, sell-side analysts expect that Bunge Global will post 9.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC purchased a new stake in shares of Bunge Global in the first quarter valued at about $2,137,000. Avantax Advisory Services Inc. acquired a new stake in Bunge Global during the 1st quarter worth approximately $899,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Bunge Global by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,642 shares of the basic materials company’s stock valued at $20,319,000 after purchasing an additional 10,891 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Bunge Global by 2,975.7% in the first quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock valued at $8,249,000 after purchasing an additional 77,844 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in shares of Bunge Global by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock worth $4,247,000 after purchasing an additional 6,281 shares during the last quarter. 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.