JPMorgan Chase & Co. Issues Positive Forecast for Bunge Global (NYSE:BG) Stock Price

Bunge Global (NYSE:BG) had its price objective lifted by JPMorgan Chase & Co. from $109.00 to $117.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other analysts have also weighed in on the stock. Barclays upgraded shares of Bunge Global from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $105.00 to $120.00 in a research report on Thursday, November 6th. Citigroup reissued a “buy” rating on shares of Bunge Global in a report on Tuesday, December 2nd. Morgan Stanley upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $120.00 in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. Finally, Zacks Research upgraded Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. One equities research 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, the stock currently has a consensus rating of “Buy” and a consensus price target of $110.67.

Bunge Global Stock Performance

Bunge Global stock opened at $112.00 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.66 billion, a PE ratio of 12.06, a P/E/G ratio of 1.67 and a beta of 0.78. Bunge Global has a 12-month low of $67.40 and a 12-month high of $112.59. The business’s 50-day moving average price is $95.33 and its two-hundred day moving average price is $87.94.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. The company had revenue of $22.16 billion for 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%. The firm’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same period last year, the company posted $2.29 EPS. As a group, analysts expect that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insider Transactions at Bunge Global

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

Hedge Funds Weigh In On Bunge Global

A number of hedge funds have recently made changes to their positions in BG. Park Avenue Securities LLC lifted its position 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 during the period. Spire Wealth Management raised its stake 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 worth $55,000 after buying an additional 116 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Bunge Global by 4.5% in 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 during the period. SBI Securities Co. Ltd. boosted its stake in shares of Bunge Global by 9.8% in the second quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock valued at $109,000 after buying an additional 121 shares in the last quarter. Finally, Czech National Bank grew its holdings in Bunge Global by 0.3% during the fourth quarter. Czech National Bank now owns 35,691 shares of the basic materials company’s stock worth $3,179,000 after acquiring an additional 123 shares during the period. 86.23% of the stock is currently owned by 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.