Bunge Global SA (NYSE:BG) Receives $109.13 Average PT from Brokerages

Shares of Bunge Global SA (NYSE:BG) have earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $109.00.

BG has been the subject of several research reports. Citigroup reissued a “buy” rating on shares of Bunge Global in a research report on Tuesday, December 2nd. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Stephens raised their price objective on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. CICC Research boosted their target price on shares of Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Finally, Morgan Stanley upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $120.00 in a research note on Tuesday, December 16th.

Insider Buying and Selling at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction that occurred on Friday, November 21st. The shares were 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 directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 added to or reduced their stakes in BG. Polianta Ltd bought a new stake in shares of Bunge Global during the 3rd quarter valued at about $1,560,000. Voya Investment Management LLC lifted its stake in shares of Bunge Global by 719.2% in the 3rd quarter. Voya Investment Management LLC now owns 303,928 shares of the basic materials company’s stock worth $24,694,000 after purchasing an additional 266,827 shares during the period. AE Wealth Management LLC lifted its stake in shares of Bunge Global by 1,596.3% in the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock worth $13,162,000 after purchasing an additional 154,279 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Bunge Global in the second quarter worth approximately $382,000. Finally, LSV Asset Management grew its position in Bunge Global by 2.1% during the second quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company’s stock valued at $171,467,000 after buying an additional 43,343 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 0.2%

NYSE:BG opened at $89.29 on Tuesday. The company has a 50-day moving average price of $93.93 and a 200-day moving average price of $85.93. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 2.32 and a beta of 0.79. 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 12 month low of $67.40 and a 12 month high of $99.55.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. Bunge Global’s revenue was up 71.6% on a year-over-year basis. Equities analysts predict that Bunge Global will post 7.94 EPS for the current year.

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.