Morgan Stanley Cuts Bunge Global (NYSE:BG) Price Target to $74.00

Bunge Global (NYSE:BG) had its price target decreased by Morgan Stanley from $90.00 to $74.00 in a report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the stock. Bank of America reduced their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Stephens reduced their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Barclays reduced their price objective on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Bunge Global Stock Up 1.1 %

Shares of NYSE:BG opened at $69.85 on Tuesday. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 8.65 and a beta of 0.69. The firm’s 50-day simple moving average is $77.90 and its 200-day simple moving average is $88.67. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $114.92.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, equities research analysts predict that Bunge Global will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BG. Spire Wealth Management acquired a new position in shares of Bunge Global in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bunge Global in the third quarter valued at approximately $34,000. Farther Finance Advisors LLC raised its position in shares of Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after buying an additional 124 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Bunge Global in the fourth quarter valued at approximately $39,000. Finally, R Squared Ltd acquired a new position in shares of Bunge Global in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds 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.