Bunge Global SA (NYSE:BG) Given Consensus Recommendation of “Buy” by Analysts

Bunge Global SA (NYSE:BG) has been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $109.7778.

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $105.00 to $120.00 in a research note on Thursday, November 6th. CICC Research increased their target price on shares of Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Stephens boosted their price target on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Morgan Stanley upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $120.00 in a research report on Tuesday, December 16th.

Insider Activity at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Bunge Global

A number of large investors have recently bought and sold shares of the business. Glencore plc purchased a new position in shares of Bunge Global in the third quarter worth about $2,665,496,000. Norges Bank purchased a new position in Bunge Global in the 2nd quarter worth approximately $149,380,000. Merewether Investment Management LP purchased a new position in Bunge Global in the 3rd quarter worth approximately $74,888,000. Ilex Capital Partners UK LLP lifted its position in Bunge Global by 383.7% in 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 purchasing an additional 707,336 shares during the last quarter. Finally, Capital World Investors boosted its stake 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 valued at $1,316,299,000 after purchasing an additional 694,709 shares during the period. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Down 0.9%

NYSE:BG opened at $107.83 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. Bunge Global has a 12-month low of $67.40 and a 12-month high of $108.84. The stock’s fifty day simple moving average is $94.48 and its 200-day simple moving average is $87.25. The firm has a market capitalization of $20.85 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.65 and a beta of 0.78.

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

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.