Bunge Global (NYSE:BG) Reaches New 12-Month High – Here’s What Happened

Bunge Global SA (NYSE:BG)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $114.88 and last traded at $114.04, with a volume of 1130836 shares trading hands. The stock had previously closed at $113.60.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Bunge Global from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. Zacks Research raised shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. lifted their price target on shares of Bunge Global from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Finally, Morgan Stanley raised Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $95.00 to $120.00 in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $110.67.

Bunge Global Stock Performance

The firm’s 50-day moving average price is $96.40 and its two-hundred day moving average price is $88.82. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $22.05 billion, a PE ratio of 12.28, a P/E/G ratio of 1.72 and a beta of 0.78.

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

Insiders Place Their Bets

In related news, VP Christos Dimopoulos sold 25,300 shares of the company’s stock in a transaction on 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 transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Bunge Global

A number of large investors have recently made changes to their positions in BG. Glencore plc boosted its holdings in shares of Bunge Global by 100.0% during the fourth quarter. Glencore plc now owns 65,612,206 shares of the basic materials company’s stock worth $5,844,735,000 after purchasing an additional 32,806,103 shares during the period. Vanguard Group Inc. boosted its stake in shares of Bunge Global by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 16,792,204 shares of the basic materials company’s stock valued at $1,364,367,000 after buying an additional 125,001 shares during the period. Capital World Investors grew its holdings in shares of Bunge Global by 4.5% during the 3rd quarter. Capital World Investors now owns 16,200,000 shares of the basic materials company’s stock valued at $1,316,299,000 after acquiring an additional 694,709 shares in the last quarter. State Street Corp grew its holdings in shares of Bunge Global by 1.3% during the 3rd quarter. State Street Corp now owns 6,921,322 shares of the basic materials company’s stock valued at $562,390,000 after acquiring an additional 85,873 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Bunge Global by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock worth $282,683,000 after acquiring an additional 80,082 shares during the last quarter. Institutional investors and hedge funds 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.