JPMorgan Chase & Co. Increases Bunge Global (NYSE:BG) Price Target to $109.00

Bunge Global (NYSE:BG) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $107.00 to $109.00 in a note issued to investors on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.30% from the stock’s previous close.

Several other research firms also recently weighed in on BG. BMO Capital Markets boosted their target price on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Stephens boosted their price objective on shares of Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Zacks Research upgraded Bunge Global from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, CICC Research increased their price objective on Bunge Global from $90.00 to $110.00 in a report on Friday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Bunge Global Trading Down 0.2%

Shares of NYSE:BG opened at $94.54 on Friday. The business’s 50-day moving average is $86.72 and its 200 day moving average is $82.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. Bunge Global has a 1 year low of $67.40 and a 1 year high of $99.55. The firm has a market capitalization of $18.28 billion, a P/E ratio of 9.44, a P/E/G ratio of 8.28 and a beta of 0.76.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The company’s revenue was up 71.6% on a year-over-year basis. On average, research analysts predict that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Bunge Global

In other news, Director Christopher Mahoney bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased 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 approximately $585,513.72. This trade represents a 231.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Bunge Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glencore plc acquired a new position in shares of Bunge Global in the third quarter worth about $2,665,496,000. Norges Bank acquired a new position in Bunge Global in the 2nd quarter worth about $149,380,000. AustralianSuper Pty Ltd acquired a new position in Bunge Global in the 1st quarter worth about $92,552,000. Dimensional Fund Advisors LP boosted its position in Bunge Global by 34.6% during 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 purchasing an additional 859,733 shares in the last quarter. Finally, Ilex Capital Partners UK LLP grew its holdings in Bunge Global by 383.7% in the second quarter. Ilex Capital Partners UK LLP now owns 891,673 shares of the basic materials company’s stock valued at $71,584,000 after purchasing an additional 707,336 shares during the period. 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.