Bunge Global SA (NYSE:BG) Sees Significant Growth in Short Interest

Bunge Global SA (NYSE:BG) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 6,408,879 shares, an increase of 20.3% from the December 15th total of 5,326,450 shares. Based on an average daily volume of 1,329,014 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.3% of the shares of the company are sold short. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 1,329,014 shares, the days-to-cover ratio is presently 4.8 days.

Insider Transactions at Bunge Global

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $94.37, for a total value of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. The trade was a 19.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Polianta Ltd acquired a new stake in shares of Bunge Global during the third quarter worth $1,560,000. Voya Investment Management LLC lifted its stake in Bunge Global by 719.2% in the third quarter. Voya Investment Management LLC now owns 303,928 shares of the basic materials company’s stock valued at $24,694,000 after buying an additional 266,827 shares during the period. SG Americas Securities LLC lifted its stake in Bunge Global by 300.4% in the third quarter. SG Americas Securities LLC now owns 46,053 shares of the basic materials company’s stock valued at $3,742,000 after buying an additional 34,551 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Bunge Global during the second quarter worth about $382,000. Finally, AE Wealth Management LLC grew its position in shares of Bunge Global by 1,596.3% during the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock worth $13,162,000 after buying an additional 154,279 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BG. Stephens boosted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. UBS Group raised their price target on shares of Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. CICC Research boosted their price objective on shares of Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $109.78.

Bunge Global Stock Performance

BG traded down $1.00 during trading on Monday, reaching $107.83. 1,976,547 shares of the company’s stock were exchanged, compared to its average volume of 1,410,863. The company has a market capitalization of $20.85 billion, a P/E ratio of 11.61, a PEG ratio of 1.63 and a beta of 0.78. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $94.74 and a 200 day moving average price of $87.54. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $108.84.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same period last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. As a group, analysts predict that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.