Bunge Global (NYSE:BG) Sets New 12-Month High – Time to Buy?

Bunge Global SA (NYSE:BG) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $110.37 and last traded at $110.1140, with a volume of 2109128 shares. The stock had previously closed at $107.81.

Analyst Upgrades and Downgrades

BG has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $120.00 in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. BMO Capital Markets increased their price target on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Citigroup reiterated a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Buy” and an average target price of $109.78.

Bunge Global Stock Up 2.1%

The company has a market capitalization of $21.29 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.63 and a beta of 0.78. The company’s fifty day moving average is $95.01 and its 200-day moving average is $87.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66.

Bunge Global (NYSE:BG) last posted 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 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%. The company’s revenue was up 71.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. As a group, analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the sale, the vice president owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The sale 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 have recently made changes to their positions in the business. Foster Dykema Cabot & Partners LLC bought a new stake in Bunge Global during the 3rd quarter valued at approximately $25,000. CoreCap Advisors LLC grew its holdings in Bunge Global by 2,000.0% during the 3rd quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock valued at $26,000 after buying an additional 300 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Bunge Global by 4,175.0% during the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after buying an additional 334 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Bunge Global in the third quarter worth $28,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Bunge Global during the second quarter worth $29,000. 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.