Bunge Global (NYSE:BG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bunge Global (NYSE:BG) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $109.00 to $117.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 1.48% from the company’s previous close.

Several other equities analysts have also commented on BG. Weiss Ratings reissued a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. Bank of America raised their target price on Bunge Global from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. UBS Group upped their price target on Bunge Global from $100.00 to $108.00 in a report on Wednesday, December 24th. BMO Capital Markets raised their price objective on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, CICC Research boosted their price objective on shares of Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.67.

Bunge Global Stock Up 1.2%

Shares of BG traded up $1.31 during midday trading on Tuesday, hitting $115.29. The company had a trading volume of 321,139 shares, compared to its average volume of 1,713,560. Bunge Global has a 1 year low of $67.40 and a 1 year high of $119.57. The firm has a market capitalization of $22.29 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. The company’s 50-day simple moving average is $98.48 and its 200-day simple moving average is $90.24.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $22.46 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm’s revenue was up 71.6% compared to the same quarter last year. As a group, sell-side analysts expect that Bunge Global will post 7.94 EPS for the current year.

Insider Transactions at Bunge Global

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bunge Global

Several large investors have recently modified their holdings of the stock. Quest 10 Wealth Builders Inc. purchased a new position in Bunge Global during the 4th quarter worth $27,000. Foster Dykema Cabot & Partners LLC purchased a new position in Bunge Global during the third quarter worth about $25,000. CoreCap Advisors LLC lifted its position in Bunge Global by 2,000.0% in the third quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 300 shares during the period. Root Financial Partners LLC purchased a new stake in Bunge Global in the 3rd quarter valued at approximately $28,000. Finally, Ameritas Advisory Services LLC acquired a new position in Bunge Global during the 2nd quarter worth approximately $29,000. Hedge funds and other 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.