Bunge Global (NYSE:BG) Stock Price Expected to Rise, CICC Research Analyst Says

Bunge Global (NYSE:BG) had its price target increased by equities research analysts at CICC Research from $90.00 to $110.00 in a report released on Friday,MarketScreener reports. CICC Research’s price target points to a potential upside of 16.36% from the company’s current price.

BG has been the topic of several other reports. Stephens upped their price target on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of 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 increased their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bunge Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $94.54 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 2.07. Bunge Global has a 1 year low of $67.40 and a 1 year high of $99.55. The firm’s 50-day simple moving average is $86.72 and its 200-day simple moving average is $82.13. The firm has a market cap of $18.28 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76.

Bunge Global (NYSE:BG) last announced its quarterly earnings data 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 return on equity of 9.16% and a net margin of 2.71%.The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. During the same period in the previous year, the company earned $2.29 earnings per share. Bunge Global’s quarterly revenue was up 71.6% on a year-over-year basis. Equities analysts forecast that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Christopher Mahoney acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the acquisition, the director directly owned 7,164 shares of the company’s stock, valued at approximately $585,513.72. The trade was a 231.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional Trading of Bunge Global

Several institutional investors and hedge funds have recently bought and sold shares of BG. CoreCap Advisors LLC lifted its holdings in shares of 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 in the last quarter. Cromwell Holdings LLC raised its position in Bunge Global by 4,175.0% during the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after buying an additional 334 shares during the period. Root Financial Partners LLC acquired a new position in Bunge Global during the third quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new stake in Bunge Global in the 2nd quarter worth about $29,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Bunge Global during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.