Bunge Global (NYSE:BG) Shares Cross Above 200-Day Moving Average – What’s Next?

Bunge Global SA (NYSE:BG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $86.33 and traded as high as $99.28. Bunge Global shares last traded at $97.35, with a volume of 2,363,676 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on BG shares. Citigroup reiterated a “buy” rating on shares of Bunge Global in a research report on Tuesday, December 2nd. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $105.00 to $120.00 in a research report on Thursday, November 6th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Morgan Stanley upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $120.00 in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. One research 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. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $109.00.

Bunge Global Stock Performance

The business’s fifty day simple moving average is $93.32 and its 200-day simple moving average is $86.33. The firm has a market cap of $18.82 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. The company 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%. Bunge Global’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. As a group, sell-side analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was 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 owned 104,537 shares of the company’s stock, valued at $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Bunge Global

Large investors have recently modified their holdings of the stock. Fulton Bank N.A. bought a new position in Bunge Global in the fourth quarter worth about $275,000. NorthCrest Asset Manangement LLC raised its position in shares of Bunge Global by 1.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 22,463 shares of the basic materials company’s stock worth $2,098,000 after acquiring an additional 321 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Bunge Global by 24.7% in the 4th quarter. Park Avenue Securities LLC now owns 3,613 shares of the basic materials company’s stock worth $322,000 after acquiring an additional 715 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Bunge Global by 16.6% in the 4th quarter. GAMMA Investing LLC now owns 6,793 shares of the basic materials company’s stock valued at $605,000 after purchasing an additional 965 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its position in shares of Bunge Global by 26.6% during the third quarter. Swiss Life Asset Management Ltd now owns 39,744 shares of the basic materials company’s stock valued at $3,229,000 after purchasing an additional 8,345 shares in the last quarter. 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.