Bunge Global (NYSE:BG – Get Free Report) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a report released on Friday, Marketbeat Ratings reports. The brokerage presently has a $105.00 price target on the basic materials company’s stock, down from their previous price target of $122.00. HSBC’s price target suggests a potential upside of 21.39% from the stock’s current price.
Several other analysts have also commented on the stock. Roth Mkm dropped their price target on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup initiated coverage on shares of Bunge Global in a research report on Thursday, February 1st. They set a “buy” rating and a $108.00 price target on the stock. Barclays dropped their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 23rd. Wolfe Research lowered shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, Robert W. Baird dropped their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bunge Global has a consensus rating of “Moderate Buy” and a consensus price target of $121.11.
Bunge Global Trading Down 1.7 %
Bunge Global (NYSE:BG – Get Free Report) last issued its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.89. Bunge Global had a net margin of 3.20% and a return on equity of 18.61%. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company posted $3.24 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, analysts forecast that Bunge Global will post 12.82 earnings per share for the current year.
Hedge Funds Weigh In On Bunge Global
A number of institutional investors have recently bought and sold shares of BG. State Street Corp raised its stake in Bunge Global by 77.5% during the first quarter. State Street Corp now owns 6,814,463 shares of the basic materials company’s stock worth $650,918,000 after purchasing an additional 2,975,929 shares during the period. Norges Bank purchased a new stake in shares of Bunge Global in the 4th quarter valued at approximately $186,143,000. Geode Capital Management LLC raised its stake in shares of Bunge Global by 59.8% in the 1st quarter. Geode Capital Management LLC now owns 3,100,158 shares of the basic materials company’s stock valued at $295,462,000 after acquiring an additional 1,159,939 shares during the period. Vanguard Group Inc. raised its stake in shares of Bunge Global by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock valued at $1,563,069,000 after acquiring an additional 696,806 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Bunge Global in the 1st quarter valued at approximately $74,642,000. 84.92% 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.
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