Bunge Global (NYSE:BG) Hits New 12-Month Low - Time to Sell?

Bunge Global SA (NYSE:BG - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $78.01 and last traded at $78.68, with a volume of 2188851 shares traded. The stock had previously closed at $80.25.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BG. Citigroup boosted their price target on Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Barclays cut their target price on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Morgan Stanley decreased their price target on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Bank of America cut their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Stephens decreased their target price on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.60.

Bunge Global Trading Up 0.9 %

The firm has a 50-day moving average of $75.62 and a two-hundred day moving average of $79.32. The firm has a market capitalization of $10.61 billion, a P/E ratio of 9.80, a P/E/G ratio of 2.66 and a beta of 0.59. The company has a current ratio of 2.15, a quick ratio of 1.27 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (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%. On average, analysts anticipate that Bunge Global SA will post 7.94 EPS for the current year.

Hedge Funds Weigh In On Bunge Global

A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company's stock valued at $229,894,000 after acquiring an additional 2,934,656 shares during the last quarter. Norges Bank bought a new position in Bunge Global during the fourth quarter worth $148,857,000. Voloridge Investment Management LLC grew its holdings in Bunge Global by 443.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock worth $94,503,000 after purchasing an additional 991,607 shares during the period. Invesco Ltd. raised its holdings in shares of Bunge Global by 28.6% during the fourth quarter. Invesco Ltd. now owns 3,206,646 shares of the basic materials company's stock valued at $249,349,000 after purchasing an additional 713,561 shares during the period. Finally, FMR LLC boosted its position in shares of Bunge Global by 25.3% during the 4th quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after purchasing an additional 699,889 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

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.