Bunge Global (NYSE:BG) Price Target Raised to $117.00

Bunge Global (NYSE:BG) had its target price raised by JPMorgan Chase & Co. from $109.00 to $117.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

BG has been the topic of a number of other research reports. CICC Research lifted their target price on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Barclays upgraded 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 research note on Thursday, November 6th. Stephens boosted their price objective on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets lifted their target price on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 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 company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $110.67.

Bunge Global Stock Up 0.8%

BG stock opened at $113.55 on Wednesday. The stock has a market cap of $21.96 billion, a P/E ratio of 12.22, a PEG ratio of 1.71 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57. Bunge Global has a twelve month low of $67.40 and a twelve month high of $114.00. The company’s 50 day moving average is $96.00 and its two-hundred day moving average is $88.38.

Bunge Global (NYSE:BG) last posted its earnings results 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 net margin of 2.20% and a return on equity of 9.06%. The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $22.46 billion. During the same period last year, the firm posted $2.29 EPS. The company’s revenue was up 71.6% on a year-over-year basis. Research analysts expect that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insider Transactions at Bunge Global

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BG. Park Avenue Securities LLC raised its holdings in Bunge Global by 3.9% during the third quarter. Park Avenue Securities LLC now owns 2,898 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 109 shares in the last quarter. Spire Wealth Management raised its stake in shares of Bunge Global by 20.5% during the 3rd quarter. Spire Wealth Management now owns 681 shares of the basic materials company’s stock worth $55,000 after buying an additional 116 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Bunge Global by 4.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,786 shares of the basic materials company’s stock valued at $226,000 after buying an additional 120 shares during the period. SBI Securities Co. Ltd. boosted 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 valued at $109,000 after buying an additional 121 shares in the last quarter. Finally, Czech National Bank boosted its stake in shares of Bunge Global by 0.3% in the fourth quarter. Czech National Bank now owns 35,691 shares of the basic materials company’s stock valued at $3,179,000 after buying an additional 123 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.