Bunge Global (NYSE:BG) Hits New 52-Week High – Time to Buy?

Bunge Global SA (NYSE:BG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $106.62 and last traded at $105.4690, with a volume of 2347267 shares traded. The stock had previously closed at $102.59.

Wall Street Analyst Weigh In

BG has been the subject of several research analyst reports. CICC Research lifted their price target on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Bank of America raised their price objective on Bunge Global from $95.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Morgan Stanley upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $95.00 to $120.00 in a research report on Tuesday, December 16th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, UBS Group lifted their price target on shares of Bunge Global from $100.00 to $108.00 in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $109.00.

Bunge Global Trading Up 2.8%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The firm has a 50-day moving average of $93.94 and a 200-day moving average of $86.90. The firm has a market capitalization of $20.39 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.78.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.04. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’s revenue was up 71.6% on a year-over-year basis. On average, equities research analysts anticipate that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the sale, the vice president owned 104,537 shares of the company’s stock, valued at $9,865,156.69. This trade represents a 19.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by insiders.

Institutional Trading of Bunge Global

A number of institutional investors have recently modified their holdings of BG. Park Avenue Securities LLC grew its stake in shares of Bunge Global by 3.9% in the third quarter. Park Avenue Securities LLC now owns 2,898 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 109 shares during the last quarter. Spire Wealth Management grew its position in shares of Bunge Global by 20.5% in the 3rd quarter. Spire Wealth Management now owns 681 shares of the basic materials company’s stock worth $55,000 after buying an additional 116 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Bunge Global by 4.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,786 shares of the basic materials company’s stock valued at $226,000 after buying an additional 120 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Bunge Global by 9.8% during the second quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 121 shares in the last quarter. Finally, Czech National Bank lifted its stake in Bunge Global by 0.3% in the fourth quarter. Czech National Bank now owns 35,691 shares of the basic materials company’s stock worth $3,179,000 after acquiring an additional 123 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

About Bunge Global

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.