Bunge Global SA (NYSE:BG) Receives Consensus Rating of “Hold” from Brokerages

Bunge Global SA (NYSE:BG) has been assigned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $99.4286.

Several brokerages have recently weighed in on BG. JPMorgan Chase & Co. raised their target price on Bunge Global from $95.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. BMO Capital Markets raised their target price on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Stephens raised their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley set a $95.00 target price on Bunge Global in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th.

Insider Activity at Bunge Global

In related news, Director Christopher Mahoney purchased 5,000 shares of Bunge Global stock in a transaction dated Monday, August 18th. The shares were acquired at an average price of $81.73 per share, with a total value of $408,650.00. Following the completion of the transaction, the director owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. This trade represents a 231.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Bunge Global

Large investors have recently modified their holdings of the stock. Glencore plc bought a new position in Bunge Global in the third quarter worth about $2,665,496,000. Geode Capital Management LLC lifted its holdings in Bunge Global by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company’s stock worth $282,683,000 after acquiring an additional 80,082 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bunge Global by 34.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock worth $255,756,000 after acquiring an additional 859,733 shares during the last quarter. Invesco Ltd. lifted its holdings in Bunge Global by 3.8% in the first quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company’s stock worth $254,446,000 after acquiring an additional 122,931 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Bunge Global by 2.1% in the second quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company’s stock worth $171,467,000 after acquiring an additional 43,343 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 0.5%

Shares of Bunge Global stock opened at $94.64 on Monday. The business has a 50-day moving average of $85.80 and a 200-day moving average of $81.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The company has a market capitalization of $18.93 billion, a PE ratio of 9.45, a P/E/G ratio of 8.28 and a beta of 0.66. Bunge Global has a 1-year low of $67.40 and a 1-year high of $99.55.

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.