Bunge Global (NYSE:BG) Sets New 12-Month High – What’s Next?

by · The Cerbat Gem

Bunge Global SA (NYSE:BG – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $106.62 and last traded at $105.4690, with a volume of 2347267 shares trading hands. The stock had previously closed at $102.59.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. JPMorgan Chase & Co. raised their target price on shares of Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bunge Global in a research note on Wednesday, December 24th. Stephens raised their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, BMO Capital Markets lifted their price objective on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $109.78.

Get Our Latest Report on Bunge Global

Bunge Global Stock Down 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 company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.65 and a beta of 0.78. The firm’s 50-day simple moving average is $94.48 and its two-hundred day simple moving average is $87.25.

Bunge Global (NYSE:BG – Get Free Report) last announced its quarterly 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 business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The company’s quarterly revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 EPS. Sell-side analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Insider Buying and Selling at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction 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 transaction, the vice president owned 104,537 shares of the company’s stock, valued at $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Bunge Global

A number of large investors have recently made changes to their positions in the stock. Glencore plc acquired a new position in Bunge Global in the 3rd quarter valued at about $2,665,496,000. Vanguard Group Inc. grew its holdings in shares of Bunge Global by 0.7% during the third quarter. Vanguard Group Inc. now owns 16,792,204 shares of the basic materials company’s stock worth $1,364,367,000 after buying an additional 125,001 shares in the last quarter. Capital World Investors grew its holdings in shares of Bunge Global by 4.5% during the third quarter. Capital World Investors now owns 16,200,000 shares of the basic materials company’s stock worth $1,316,299,000 after buying an additional 694,709 shares in the last quarter. State Street Corp raised its position in shares of Bunge Global by 1.3% in the third quarter. State Street Corp now owns 6,921,322 shares of the basic materials company’s stock valued at $562,390,000 after buying an additional 85,873 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Bunge Global by 2.3% during the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock valued at $282,683,000 after buying an additional 80,082 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Company Profile

(Get Free Report)

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.

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