JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Bunge Global (NYSE:BG) Stock

Bunge Global (NYSE:BG) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $95.00 to $107.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.72% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Bunge Global from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus price target of $94.86.

Bunge Global Trading Up 2.3%

Shares of BG opened at $97.52 on Thursday. The stock has a market capitalization of $19.51 billion, a P/E ratio of 9.74, a PEG ratio of 8.15 and a beta of 0.66. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $83.08 and a two-hundred day simple moving average of $79.97. Bunge Global has a twelve month low of $67.40 and a twelve month high of $98.23.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.12. The business had revenue of $12.77 billion during the quarter, compared to analysts’ expectations of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, research analysts anticipate that Bunge Global will post 7.94 EPS for the current year.

Insider Activity

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the purchase, the director directly owned 7,164 shares in the company, valued at $585,513.72. The trade was a 231.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. increased its stake in shares of Bunge Global by 9.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 121 shares in the last quarter. M&T Bank Corp increased its stake in shares of Bunge Global by 1.9% in the 2nd quarter. M&T Bank Corp now owns 6,743 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 124 shares in the last quarter. Allworth Financial LP increased its stake in shares of Bunge Global by 18.4% in the 1st quarter. Allworth Financial LP now owns 940 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 146 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Bunge Global by 0.9% in the 1st quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company’s stock worth $1,321,000 after acquiring an additional 149 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Bunge Global by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 28,841 shares of the basic materials company’s stock worth $2,315,000 after acquiring an additional 157 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.