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

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

Several other equities research analysts also recently issued reports on BG. Bank of America decreased 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. Barclays decreased 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. Finally, Stephens decreased their price objective on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and an average price target of $93.00.

Bunge Global Price Performance

Bunge Global stock opened at $69.85 on Tuesday. Bunge Global has a 1 year low of $67.40 and a 1 year high of $114.92. The firm has a 50 day moving average price of $77.90 and a 200 day moving average price of $88.67. 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 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 released 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%. Sell-side analysts predict that Bunge Global will post 7.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Evergreen Capital Management LLC boosted its stake in shares of Bunge Global by 1.3% in the fourth quarter. Evergreen Capital Management LLC now owns 33,126 shares of the basic materials company’s stock valued at $2,576,000 after purchasing an additional 431 shares during the period. Jump Financial LLC boosted its stake in shares of Bunge Global by 866.5% in the fourth quarter. Jump Financial LLC now owns 46,053 shares of the basic materials company’s stock valued at $3,581,000 after purchasing an additional 41,288 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Bunge Global in the fourth quarter valued at $1,754,000. Cohen & Steers Inc. boosted its stake in shares of Bunge Global by 195.4% in the fourth quarter. Cohen & Steers Inc. now owns 233,400 shares of the basic materials company’s stock valued at $18,149,000 after purchasing an additional 154,382 shares during the period. Finally, Optimize Financial Inc purchased a new position in shares of Bunge Global in the fourth quarter valued at $360,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.