Morgan Stanley Has Lowered Expectations for Bunge Global (NYSE:BG) Stock Price

Bunge Global (NYSE:BG) had its price target cut by Morgan Stanley from $90.00 to $74.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s target price points to a potential upside of 5.16% from the company’s current price.

Several other brokerages have also recently weighed in on BG. Bank of America lowered their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays dropped their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Stephens lowered their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Bunge Global Stock Performance

NYSE BG traded up $1.21 during mid-day trading on Tuesday, reaching $70.37. 577,686 shares of the stock were exchanged, compared to its average volume of 1,597,459. The business’s 50 day moving average is $78.94 and its 200-day moving average is $89.25. The company has a market capitalization of $9.83 billion, a P/E ratio of 8.70 and a beta of 0.69. Bunge Global has a 1 year low of $67.40 and a 1 year high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.15.

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

Institutional Investors Weigh In On Bunge Global

Large investors have recently added to or reduced their stakes in the business. Magnetar Financial LLC acquired a new position in Bunge Global in the 4th quarter valued at about $2,799,000. Royal London Asset Management Ltd. grew its holdings in shares of Bunge Global by 15.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 86,406 shares of the basic materials company’s stock worth $6,719,000 after buying an additional 11,586 shares in the last quarter. Xponance Inc. raised its position in shares of Bunge Global by 4.7% in the fourth quarter. Xponance Inc. now owns 69,949 shares of the basic materials company’s stock valued at $5,439,000 after buying an additional 3,146 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Bunge Global by 267.4% during the fourth quarter. Intech Investment Management LLC now owns 184,460 shares of the basic materials company’s stock valued at $14,344,000 after buying an additional 134,249 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its position in Bunge Global by 18.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 319,121 shares of the basic materials company’s stock worth $24,815,000 after acquiring an additional 49,046 shares during 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.