Morgan Stanley Cuts Bunge Global (NYSE:BG) Price Target to $74.00

Bunge Global (NYSE:BG) had its price target reduced by equities researchers at Morgan Stanley from $90.00 to $74.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s target price indicates a potential upside of 5.16% from the stock’s previous close.

Other research analysts have also issued reports about the company. Barclays cut their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Stephens lowered their price target on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Finally, Bank of America decreased their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Bunge Global Trading Up 1.7 %

Shares of Bunge Global stock traded up $1.21 during trading hours on Tuesday, reaching $70.37. The stock had a trading volume of 577,686 shares, compared to its average volume of 1,597,459. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 8.70 and a beta of 0.69. Bunge Global has a 1 year low of $67.40 and a 1 year high of $114.92. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $78.94 and a two-hundred day simple moving average of $89.25.

Bunge Global (NYSE:BG) last posted its quarterly earnings results 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 net margin of 2.14% and a return on equity of 11.73%. As a group, equities research analysts anticipate that Bunge Global will post 7.75 earnings per share for the current year.

Institutional Trading of Bunge Global

Institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management bought a new position in shares of Bunge Global in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Bunge Global during the third quarter valued at approximately $34,000. Crews Bank & Trust bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $39,000. Farther Finance Advisors LLC lifted its stake in shares of Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after buying an additional 124 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Bunge Global during the 4th quarter worth $45,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.