Bunge Global (NYSE:BG) Trading Up 4.2% – Still a Buy?

Bunge Global SA (NYSE:BG)’s stock price shot up 4.2% during mid-day trading on Friday . The stock traded as high as $91.85 and last traded at $91.80. 1,777,314 shares changed hands during trading, an increase of 14% from the average session volume of 1,563,366 shares. The stock had previously closed at $88.06.

Analyst Ratings Changes

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Trading Up 2.9 %

The business’s 50 day moving average price is $93.00 and its 200-day moving average price is $100.33. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 11.47 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently added to or reduced their stakes in BG. Altshuler Shaham Ltd bought a new position in shares of Bunge Global during the second quarter valued at $28,000. Blue Trust Inc. boosted its holdings in shares of Bunge Global by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 102 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in Bunge Global by 185.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Bunge Global during the 2nd quarter valued at $40,000. Finally, Atlas Capital Advisors LLC raised its position in Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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.