Bunge Global (NYSE:BG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bunge Global (NYSE:BG) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $109.00 to $117.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.87% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Citigroup reissued a “buy” rating on shares of Bunge Global in a research report on Tuesday, December 2nd. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Bank of America boosted their price target on Bunge Global from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Stephens increased their price objective on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $110.67.

Bunge Global Trading Up 0.5%

Bunge Global stock opened at $112.64 on Wednesday. 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 stock has a market cap of $21.78 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.70 and a beta of 0.78. The stock has a 50-day moving average of $95.64 and a two-hundred day moving average of $88.11. Bunge Global has a one year low of $67.40 and a one year high of $112.90.

Bunge Global (NYSE:BG) last issued its quarterly 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 business 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 9.06% and a net margin of 2.20%.The company’s revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. On average, research analysts anticipate that Bunge Global will post 7.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

Institutional Trading of Bunge Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Paragon Capital Management Ltd purchased a new position in Bunge Global in the 4th quarter valued at about $212,000. V Square Quantitative Management LLC acquired a new position in shares of Bunge Global during the fourth quarter valued at approximately $560,000. Glencore plc lifted its position in shares of Bunge Global by 100.0% in the fourth quarter. Glencore plc now owns 65,612,206 shares of the basic materials company’s stock valued at $5,844,735,000 after acquiring an additional 32,806,103 shares in the last quarter. Hager Investment Management Services LLC boosted its stake in shares of Bunge Global by 1,020.8% in the fourth quarter. Hager Investment Management Services LLC now owns 1,345 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Lesa Sroufe & Co boosted its stake in shares of Bunge Global by 0.7% in the fourth quarter. Lesa Sroufe & Co now owns 29,206 shares of the basic materials company’s stock worth $2,602,000 after acquiring an additional 190 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.