Bunge Global SA (NYSE:BG) Short Interest Update

Bunge Global SA (NYSE:BG) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 3,910,000 shares, a decline of 24.7% from the February 13th total of 5,190,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is presently 2.3 days.

Institutional Investors Weigh In On Bunge Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Old West Investment Management LLC boosted its holdings in Bunge Global by 6.7% in the 3rd quarter. Old West Investment Management LLC now owns 120,043 shares of the basic materials company’s stock worth $11,601,000 after buying an additional 7,489 shares during the period. Atria Investments Inc boosted its holdings in Bunge Global by 3.2% in the 3rd quarter. Atria Investments Inc now owns 12,476 shares of the basic materials company’s stock worth $1,206,000 after buying an additional 384 shares during the period. Victory Capital Management Inc. boosted its holdings in Bunge Global by 2,840.3% in the 3rd quarter. Victory Capital Management Inc. now owns 129,698 shares of the basic materials company’s stock worth $12,534,000 after buying an additional 125,287 shares during the period. CIBC Asset Management Inc boosted its holdings in Bunge Global by 6.6% in the 3rd quarter. CIBC Asset Management Inc now owns 24,287 shares of the basic materials company’s stock worth $2,347,000 after buying an additional 1,513 shares during the period. Finally, Caprock Group LLC boosted its holdings in Bunge Global by 2.2% in the 3rd quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after buying an additional 164 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Trading Up 0.6 %

NYSE:BG opened at $74.01 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. Bunge Global has a one year low of $67.40 and a one year high of $114.92. The business has a fifty day moving average price of $74.84 and a 200-day moving average price of $84.63.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Sell-side analysts forecast that Bunge Global will post 7.94 EPS for the current year.

Analysts Set New Price Targets

BG has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Stephens decreased their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Bank of America decreased their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Barclays decreased their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.00.

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.