Bunge Global (NYSE:BG) Price Target Raised to $122.00 at Citigroup

Bunge Global (NYSE:BG) had its price target upped by equities research analysts at Citigroup from $117.00 to $122.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target indicates a potential upside of 17.24% from the stock’s current price.

A number of other analysts have also recently weighed in on BG. The Goldman Sachs Group decreased their target price on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. BMO Capital Markets cut their price target on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Robert W. Baird cut their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Finally, HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Bunge Global Stock Performance

Shares of NYSE:BG traded down $1.73 on Thursday, hitting $104.06. The company had a trading volume of 1,996,559 shares, compared to its average volume of 1,770,546. Bunge Global has a 1-year low of $86.10 and a 1-year high of $116.59. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of 6.99 and a beta of 0.64. The stock has a 50 day moving average price of $99.28 and a 200 day moving average price of $100.01. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the previous year, the business earned $3.26 earnings per share. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. Analysts expect that Bunge Global will post 9.26 EPS for the current year.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently added to or reduced their stakes in the company. HTLF Bank bought a new position in shares of Bunge Global during the 1st quarter valued at approximately $343,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Bunge Global by 23.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,454 shares of the basic materials company’s stock worth $4,865,000 after purchasing an additional 9,100 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Bunge Global by 53.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,316 shares of the basic materials company’s stock worth $1,878,000 after buying an additional 6,352 shares during the last quarter. Patton Albertson Miller Group LLC increased its holdings in shares of Bunge Global by 30.1% in the 1st quarter. Patton Albertson Miller Group LLC now owns 52,009 shares of the basic materials company’s stock worth $5,332,000 after buying an additional 12,041 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Bunge Global by 17.9% in the 1st quarter. V Square Quantitative Management LLC now owns 3,951 shares of the basic materials company’s stock worth $405,000 after buying an additional 601 shares during the last quarter. 86.23% of the stock is 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.