Bunge Global (NYSE:BG) Sets New 52-Week High – Still a Buy?

Bunge Global SA (NYSE:BG)’s stock price reached a new 52-week high on Friday . The stock traded as high as $99.94 and last traded at $98.4750, with a volume of 900 shares trading hands. The stock had previously closed at $97.51.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. Stephens increased their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. BMO Capital Markets boosted their price target on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. CICC Research upped their price objective on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $109.00.

Bunge Global Stock Performance

The firm has a market cap of $19.34 billion, a PE ratio of 10.77, a P/E/G ratio of 2.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83. The stock has a 50-day moving average price of $93.43 and a 200 day moving average price of $86.46.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.04. The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. Research analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Insider Transactions at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction on 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 transaction, the vice president owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bunge Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC purchased a new stake in Bunge Global during the 3rd quarter worth approximately $25,000. CoreCap Advisors LLC boosted its stake in shares of Bunge Global by 2,000.0% during the 3rd quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock valued at $26,000 after buying an additional 300 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Bunge Global by 4,175.0% during the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after buying an additional 334 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Bunge Global in the third quarter worth $28,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Bunge Global in the second quarter worth $29,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

About Bunge Global

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.