Bunge Global (NYSE:BG) Downgraded by Barclays to “Equal Weight”

Barclays cut shares of Bunge Global (NYSE:BG) from an overweight rating to an equal weight rating in a report published on Tuesday morning, MarketBeat reports. They currently have $95.00 price target on the basic materials company’s stock, down from their previous price target of $115.00.

Separately, Stephens raised shares of Bunge Global to a “strong-buy” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.14.

Bunge Global Stock Performance

NYSE BG opened at $78.64 on Tuesday. The company’s 50 day moving average is $82.85 and its 200-day moving average is $92.84. Bunge Global has a 12-month low of $75.75 and a 12-month high of $114.92. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $10.98 billion, a P/E ratio of 9.95 and a beta of 0.70.

Hedge Funds Weigh In On Bunge Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in Bunge Global in the 3rd quarter worth approximately $34,000. Farther Finance Advisors LLC lifted its holdings in shares of Bunge Global by 40.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 124 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Bunge Global by 145.1% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 386 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Bunge Global by 121.5% in the 3rd quarter. Blue Trust Inc. now owns 658 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 361 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of Bunge Global by 31.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.