Bunge Global (NYSE:BG) Sets New 52-Week High – Time to Buy?

Bunge Global SA (NYSE:BG) shares reached a new 52-week high during trading on Friday . The stock traded as high as $99.94 and last traded at $98.4750, with a volume of 900 shares trading hands. The stock had previously closed at $97.51.

Analysts Set New Price Targets

A number of research firms have commented on BG. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $105.00 to $120.00 in a report on Thursday, November 6th. CICC Research boosted their price objective on shares of Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. Stephens increased their target price 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, UBS Group boosted their target price on Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. One 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’s stock. According to data from MarketBeat, Bunge Global has a consensus rating of “Buy” and an average price target of $109.00.

Bunge Global Trading Up 0.9%

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83. The firm has a market cap of $19.02 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.78. The business’s 50-day moving average price is $93.32 and its two-hundred day moving average price is $86.33.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.23 by $0.04. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.29 EPS. Equities 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 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 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Bunge Global

A number of large investors have recently modified their holdings of BG. Park Avenue Securities LLC grew its holdings in Bunge Global by 3.9% during the 3rd quarter. Park Avenue Securities LLC now owns 2,898 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 109 shares in the last quarter. Spire Wealth Management increased its position in shares of Bunge Global by 20.5% during the third quarter. Spire Wealth Management now owns 681 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 116 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Bunge Global by 4.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,786 shares of the basic materials company’s stock worth $226,000 after acquiring an additional 120 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Bunge Global by 9.8% in the second quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 121 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Bunge Global by 1.9% during the 2nd quarter. M&T Bank Corp now owns 6,743 shares of the basic materials company’s stock valued at $541,000 after purchasing an additional 124 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.