Bunge Global (NYSE:BG) Trading 4.2% Higher – Here’s Why

Bunge Global SA (NYSE:BG)’s share price traded up 4.2% during trading on Friday . The company traded as high as $91.85 and last traded at $91.80. 1,777,314 shares were traded during mid-day trading, an increase of 14% from the average session volume of 1,563,366 shares. The stock had previously closed at $88.06.

Analyst Ratings Changes

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Bunge Global Stock Performance

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 company has a 50 day simple moving average of $93.15 and a 200-day simple moving average of $100.43. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 11.15 and a beta of 0.67.

Hedge Funds Weigh In On Bunge Global

A number of institutional investors have recently modified their holdings of BG. Altshuler Shaham Ltd bought a new stake in Bunge Global during the second quarter worth $28,000. Blue Trust Inc. grew its holdings in Bunge Global by 52.3% during the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after buying an additional 102 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Bunge Global by 185.2% during the second quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Bunge Global during the second quarter worth $40,000. Finally, Atlas Capital Advisors LLC grew its holdings in Bunge Global by 261.3% during the second quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after buying an additional 277 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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.