Barclays Downgrades Bunge Global (NYSE:BG) to Equal Weight

Bunge Global (NYSE:BG) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $95.00 target price on the basic materials company’s stock, down from their previous target price of $115.00. Barclays‘s price target points to a potential upside of 21.99% from the company’s previous close.

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

Bunge Global Stock Down 1.0 %

Shares of BG opened at $77.88 on Tuesday. The stock’s 50-day moving average price is $82.67 and its 200-day moving average price is $92.74. 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 market capitalization of $10.87 billion, a price-to-earnings ratio of 9.86 and a beta of 0.70. Bunge Global has a 52 week low of $75.75 and a 52 week high of $114.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Bunge Global by 17.9% in the second quarter. Envestnet Asset Management Inc. now owns 125,647 shares of the basic materials company’s stock valued at $13,415,000 after purchasing an additional 19,095 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Bunge Global by 24.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,085 shares of the basic materials company’s stock valued at $634,000 after buying an additional 1,215 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Bunge Global by 285.1% in the 2nd quarter. Intech Investment Management LLC now owns 17,081 shares of the basic materials company’s stock worth $1,824,000 after acquiring an additional 12,646 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Bunge Global by 15.3% during the 2nd quarter. Sei Investments Co. now owns 66,046 shares of the basic materials company’s stock worth $7,051,000 after acquiring an additional 8,777 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Bunge Global by 10.5% during the 2nd quarter. ProShare Advisors LLC now owns 36,224 shares of the basic materials company’s stock valued at $3,868,000 after acquiring an additional 3,455 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.