Bunge Global (NYSE:BG) Hits New 1-Year High – What’s Next?

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

Wall Street Analysts Forecast Growth

BG has been the subject of a number of analyst reports. Citigroup restated a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Bank of America boosted their target price on shares of Bunge Global from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. BMO Capital Markets increased their price target on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. CICC Research raised their price target on shares of Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Finally, 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 research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $110.67.

Bunge Global Price Performance

The firm has a market cap of $22.31 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. 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 stock has a 50 day moving average price of $97.24 and a two-hundred day moving average price of $89.28.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.23 by $0.04. The firm 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 was up 71.6% on a year-over-year basis. During the same period last year, the firm posted $2.29 EPS. As a group, equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current year.

Insider Activity

In other news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global 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 sale, the vice president directly owned 104,537 shares in the company, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Bunge Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BG. United Services Automobile Association acquired a new position in shares of Bunge Global in the first quarter valued at about $223,000. Woodline Partners LP lifted its holdings in shares of Bunge Global by 34.5% during the first quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company’s stock worth $862,000 after purchasing an additional 2,893 shares during the period. Focus Partners Wealth boosted its position in Bunge Global by 16.7% in the first quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company’s stock valued at $309,000 after buying an additional 580 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Bunge Global by 12.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the basic materials company’s stock worth $922,000 after buying an additional 1,342 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Bunge Global by 455.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,327 shares of the basic materials company’s stock worth $187,000 after buying an additional 1,908 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.