Bunge Global (NYSE:BG) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Bunge Global SA (NYSE:BG) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $86.33 and traded as high as $99.28. Bunge Global shares last traded at $97.35, with a volume of 2,363,676 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BG. Citigroup restated a “buy” rating on shares of Bunge Global in a report on Tuesday, December 2nd. Bank of America boosted their target price on Bunge Global from $95.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. UBS Group increased their price target on Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $109.00.

Bunge Global Price Performance

The firm has a 50 day moving average price of $93.32 and a two-hundred day moving average price of $86.33. The company has a market cap of $18.82 billion, a P/E ratio of 10.48, a P/E/G ratio of 2.03 and a beta of 0.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.23 by $0.04. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. Bunge Global’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period last year, the firm earned $2.29 EPS. On average, analysts predict that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Insider Buying and Selling at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the sale, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Park Avenue Securities LLC raised its stake in Bunge Global by 3.9% in the third quarter. Park Avenue Securities LLC now owns 2,898 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 109 shares in the last quarter. Spire Wealth Management raised its position in shares of Bunge Global by 20.5% during the 3rd quarter. Spire Wealth Management now owns 681 shares of the basic materials company’s stock valued at $55,000 after buying an additional 116 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Bunge Global by 4.5% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,786 shares of the basic materials company’s stock valued at $226,000 after buying an additional 120 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Bunge Global by 9.8% during 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 during the last quarter. Finally, M&T Bank Corp grew its position in Bunge Global by 1.9% in the second 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. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.