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

Barclays cut shares of Bunge Global (NYSE:BG) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, MarketBeat.com reports. Barclays currently has $95.00 price objective on the basic materials company’s stock, down from their prior price objective of $115.00.

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

Bunge Global Stock Down 1.1 %

Shares of NYSE BG opened at $78.64 on Tuesday. The stock has a market capitalization of $10.98 billion, a P/E ratio of 9.95 and a beta of 0.70. The company has a 50-day moving average price of $82.85 and a 200-day moving average price of $92.84. Bunge Global has a 1 year low of $75.75 and a 1 year high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10.

Institutional Trading of Bunge Global

Several hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in Bunge Global by 40.1% in the third 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 period. NorthCrest Asset Manangement LLC raised its position in Bunge Global by 0.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company’s stock worth $2,305,000 after acquiring an additional 144 shares during the period. V Square Quantitative Management LLC raised its position in shares of Bunge Global by 3.7% in the third quarter. V Square Quantitative Management LLC now owns 4,367 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 156 shares during the period. Caprock Group LLC raised its position in shares of Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after purchasing an additional 164 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 166 shares during the period. 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.