Bunge Global (NYSE:BG) Sets New 12-Month High – What’s Next?

Bunge Global SA (NYSE:BG) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $99.94 and last traded at $98.4750, with a volume of 900 shares changing hands. The stock had previously closed at $97.51.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of research analyst reports. Stephens lifted their price target on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Thursday, November 6th. Bank of America boosted their target price on shares of Bunge Global from $95.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $109.00.

Bunge Global Stock Up 0.9%

The stock’s fifty day simple moving average is $93.32 and its two-hundred day simple moving average is $86.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83. The company has a market capitalization of $19.02 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 2.03 and a beta of 0.78.

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

Insider Activity at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the sale, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Glencore plc bought a new stake in Bunge Global in the 3rd quarter valued at about $2,665,496,000. Norges Bank acquired a new stake in shares of Bunge Global in the second quarter valued at approximately $149,380,000. Merewether Investment Management LP acquired a new stake in shares of Bunge Global in the third quarter valued at approximately $74,888,000. Ilex Capital Partners UK LLP raised its holdings in shares of Bunge Global by 383.7% during the second quarter. Ilex Capital Partners UK LLP now owns 891,673 shares of the basic materials company’s stock valued at $71,584,000 after buying an additional 707,336 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Bunge Global by 4.5% during the third quarter. Capital World Investors now owns 16,200,000 shares of the basic materials company’s stock worth $1,316,299,000 after buying an additional 694,709 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Company Profile

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.