Short Interest in Bunge Global SA (NYSE:BG) Declines By 24.7%

Bunge Global SA (NYSE:BG) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 3,910,000 shares, a decline of 24.7% from the February 13th total of 5,190,000 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily volume of 1,670,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

Several research firms have recently weighed in on BG. Stephens reduced their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Bank of America cut their price target 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, February 11th. Finally, Barclays dropped 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 report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Hedge Funds Weigh In On Bunge Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Old West Investment Management LLC boosted its holdings in shares of Bunge Global by 6.7% in the third quarter. Old West Investment Management LLC now owns 120,043 shares of the basic materials company’s stock worth $11,601,000 after buying an additional 7,489 shares during the last quarter. Atria Investments Inc increased its stake in shares of Bunge Global by 3.2% in the third quarter. Atria Investments Inc now owns 12,476 shares of the basic materials company’s stock worth $1,206,000 after purchasing an additional 384 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Bunge Global by 2,840.3% in the third quarter. Victory Capital Management Inc. now owns 129,698 shares of the basic materials company’s stock valued at $12,534,000 after acquiring an additional 125,287 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Bunge Global by 6.6% during the third quarter. CIBC Asset Management Inc now owns 24,287 shares of the basic materials company’s stock valued at $2,347,000 after buying an additional 1,513 shares during the last quarter. Finally, Caprock Group LLC grew its stake in Bunge Global by 2.2% during the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock valued at $722,000 after acquiring an additional 164 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Up 0.2 %

BG stock traded up $0.16 during trading on Tuesday, hitting $74.71. 1,070,704 shares of the stock traded hands, compared to its average volume of 1,461,909. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global has a 1 year low of $67.40 and a 1 year high of $114.92. The firm’s 50 day moving average is $74.71 and its two-hundred day moving average is $84.25.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Bunge Global will post 7.94 EPS for the current year.

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.