Bunge Global (NYSE:BG) Downgraded by Citigroup to Neutral

Bunge Global (NYSE:BG) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Thursday, Briefing.com reports. They presently have a $114.00 price target on the basic materials company’s stock, down from their prior price target of $125.00. Citigroup’s target price would indicate a potential upside of 8.35% from the stock’s current price.

Bunge Global Trading Down 8.2 %

BG opened at $105.21 on Thursday. The firm’s fifty day moving average is $107.85 and its two-hundred day moving average is $101.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The firm has a market cap of $14.90 billion, a PE ratio of 8.47 and a beta of 0.67. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59.

Insider Transactions at Bunge Global

In other news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the completion of the sale, the insider now owns 87,999 shares of the company’s stock, valued at $9,086,776.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Bunge Global

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its position in Bunge Global by 1.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 26,462 shares of the basic materials company’s stock valued at $2,671,000 after purchasing an additional 457 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in Bunge Global in the fourth quarter valued at $204,000. Arizona State Retirement System grew its position in Bunge Global by 0.8% in the fourth quarter. Arizona State Retirement System now owns 41,402 shares of the basic materials company’s stock valued at $4,180,000 after purchasing an additional 311 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Bunge Global by 53.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 91,657 shares of the basic materials company’s stock valued at $9,314,000 after purchasing an additional 32,020 shares in the last quarter. Finally, Forza Wealth Management LLC grew its position in Bunge Global by 57.5% in the fourth quarter. Forza Wealth Management LLC now owns 5,890 shares of the basic materials company’s stock valued at $595,000 after purchasing an additional 2,150 shares in the last quarter. 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.