Bunge Global SA (NYSE:BG) Receives $109.13 Average Price Target from Brokerages

Bunge Global SA (NYSE:BG) has received a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $109.00.

Several research analysts have weighed in on BG shares. 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. Stephens boosted their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Morgan Stanley upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $95.00 to $120.00 in a research report on Tuesday, December 16th. Finally, CICC Research boosted their price target on Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th.

Bunge Global Stock Down 0.3%

BG stock opened at $88.27 on Tuesday. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 2.31 and a beta of 0.79. 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 business’s 50-day moving average is $94.26 and its two-hundred day moving average is $85.61. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $99.55.

Bunge Global (NYSE:BG) last released 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 firm 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 business’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, analysts forecast that Bunge Global will post 7.94 earnings per share for the current year.

Insider Activity

In related news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.80% of the company’s stock.

Institutional Trading of Bunge Global

Several institutional investors have recently made changes to their positions in the business. Algert Global LLC bought a new position in Bunge Global in the 1st quarter worth approximately $325,000. Norinchukin Bank The lifted its holdings in shares of Bunge Global by 8.5% in the first quarter. Norinchukin Bank The now owns 5,986 shares of the basic materials company’s stock worth $457,000 after buying an additional 471 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Bunge Global by 6.8% in the first quarter. Ameriprise Financial Inc. now owns 651,900 shares of the basic materials company’s stock worth $49,815,000 after buying an additional 41,563 shares in the last quarter. Allstate Corp boosted its position in shares of Bunge Global by 22.4% during the first quarter. Allstate Corp now owns 5,095 shares of the basic materials company’s stock worth $389,000 after acquiring an additional 934 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Bunge Global by 7.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,137 shares of the basic materials company’s stock worth $1,386,000 after acquiring an additional 1,293 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.