Bunge Global (NYSE:BG) Price Target Raised to $117.00 at JPMorgan Chase & Co.

Bunge Global (NYSE:BG) had its target price hoisted by JPMorgan Chase & Co. from $109.00 to $117.00 in a report published on Tuesday morning,MarketScreener reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

A number of other equities analysts also recently commented on BG. BMO Capital Markets raised their price objective 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. Citigroup reissued a “buy” rating on shares of Bunge Global in a research report on Tuesday, December 2nd. Zacks Research downgraded Bunge Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 27th. UBS Group upped their price objective on Bunge Global from $100.00 to $108.00 in a research note on Wednesday, December 24th. Finally, CICC Research increased their target price on Bunge Global from $90.00 to $110.00 in a report on Friday, November 7th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.67.

Bunge Global Price Performance

Shares of NYSE:BG opened at $116.91 on Tuesday. The firm has a market capitalization of $22.60 billion, a PE ratio of 12.58, a PEG ratio of 1.73 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57. Bunge Global has a 1-year low of $67.40 and a 1-year high of $119.57. The business’s 50 day moving average is $98.89 and its 200-day moving average is $90.54.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a return on equity of 9.06% and a net margin of 2.20%.The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. During the same period in the prior year, the company posted $2.29 earnings per share. Bunge Global’s revenue was up 71.6% on a year-over-year basis. Sell-side analysts predict that Bunge Global will post 7.94 earnings per share for the current year.

Insider Activity at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of the stock in a transaction that occurred on 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 sale, the vice president directly owned 104,537 shares in the company, valued at $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by insiders.

Institutional Trading of Bunge Global

Several hedge funds have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC acquired a new position in Bunge Global during the 3rd quarter worth $25,000. CoreCap Advisors LLC lifted its stake in shares of Bunge Global by 2,000.0% during the third quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 300 shares during the period. Quest 10 Wealth Builders Inc. bought a new position in Bunge Global in the fourth quarter valued at about $27,000. Root Financial Partners LLC acquired a new stake in Bunge Global in the third quarter worth about $28,000. Finally, Ameritas Advisory Services LLC bought a new stake in Bunge Global during the 2nd quarter worth about $29,000. 86.23% of the stock is owned by institutional investors.

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.