Bunge Global (NYSE:BG) Shares Gap Down to $109.62

Bunge Global SA (NYSE:BG - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $109.62, but opened at $105.00. Bunge Global shares last traded at $105.36, with a volume of 654,479 shares traded.

Wall Street Analyst Weigh In

BG has been the topic of a number of analyst reports. HSBC raised Bunge Global from a "hold" rating to a "buy" rating and decreased their price target for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. StockNews.com cut shares of Bunge Global from a "buy" rating to a "hold" rating in a research report on Monday, February 26th. Roth Mkm dropped their target price on shares of Bunge Global from $161.00 to $138.00 and set a "buy" rating for the company in a report on Monday, February 5th. The Goldman Sachs Group reduced their price target on Bunge Global from $141.00 to $126.00 and set a "buy" rating on the stock in a report on Tuesday, February 13th. Finally, Wolfe Research cut Bunge Global from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.44.

Bunge Global Price Performance

The firm's fifty day simple moving average is $99.02 and its 200-day simple moving average is $99.98. The firm has a market capitalization of $14.91 billion, a PE ratio of 7.10 and a beta of 0.64. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.89. The firm had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company's revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.24 earnings per share. On average, research analysts forecast that Bunge Global SA will post 9.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Bunge Global in the fourth quarter valued at about $128,092,000. LSV Asset Management raised its position in shares of Bunge Global by 86.8% during the fourth quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company's stock valued at $144,435,000 after buying an additional 664,632 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Bunge Global by 28.9% in the third 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 buying an additional 659,471 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Bunge Global by 3.1% during the fourth 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 during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Bunge Global during the third quarter valued at $30,032,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.