JPMorgan Chase & Co. Issues Positive Forecast for Bunge Global (NYSE:BG) Stock Price

Bunge Global (NYSE:BG) had its target price raised by JPMorgan Chase & Co. from $107.00 to $109.00 in a report released on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 15.30% from the stock’s previous close.

A number of other brokerages have also weighed in on BG. Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $105.00 to $120.00 in a research note on Thursday. Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Finally, Stephens upped their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Bunge Global Trading Down 0.2%

Shares of Bunge Global stock opened at $94.54 on Friday. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76. Bunge Global has a 52-week low of $67.40 and a 52-week high of $99.55. The company’s 50-day simple moving average is $86.72 and its 200-day simple moving average is $82.12. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59.

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 analysts’ consensus estimates of $2.23 by $0.04. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. As a group, equities research analysts anticipate that Bunge Global will post 7.94 earnings per share for the current year.

Insider Buying and Selling at Bunge Global

In related news, Director Christopher Mahoney acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the transaction, the director directly owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. This trade represents a 231.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bunge Global

A number of large investors have recently bought and sold shares of BG. Park Avenue Securities LLC raised its holdings 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 acquiring an additional 109 shares during the last quarter. Spire Wealth Management increased its position in Bunge Global by 20.5% during the 3rd quarter. Spire Wealth Management now owns 681 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 116 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Bunge Global by 9.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 121 shares during the last quarter. M&T Bank Corp lifted its holdings in Bunge Global by 1.9% in the 2nd quarter. M&T Bank Corp now owns 6,743 shares of the basic materials company’s stock valued at $541,000 after purchasing an additional 124 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Bunge Global by 18.4% in the 1st quarter. Allworth Financial LP now owns 940 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds 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.