Bunge Global (NYSE:BG) Price Target Raised to $108.00

Bunge Global (NYSE:BG) had its price objective increased by investment analysts at UBS Group from $100.00 to $108.00 in a note issued to investors on Wednesday,MarketScreener reports. UBS Group’s price objective would indicate a potential upside of 21.33% from the company’s current price.

Several other research firms have also recently issued reports on BG. JPMorgan Chase & Co. increased their price objective on Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. CICC Research raised their price objective on shares of Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bunge Global in a report on Thursday, December 18th. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $105.00 to $120.00 in a research note on Thursday, November 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $109.00.

Bunge Global Stock Performance

Shares of BG opened at $89.02 on Wednesday. The stock has a market capitalization of $17.21 billion, a P/E ratio of 9.54, a P/E/G ratio of 2.33 and a beta of 0.79. The company’s fifty day moving average is $94.50 and its two-hundred day moving average is $85.57. 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 has a 1 year low of $67.40 and a 1 year high of $99.55.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. On average, 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 company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction 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 represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bunge Global

Several hedge funds have recently made changes to their positions in the business. Swiss Life Asset Management Ltd boosted its stake in Bunge Global by 26.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 39,744 shares of the basic materials company’s stock worth $3,229,000 after buying an additional 8,345 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Bunge Global during the third quarter worth approximately $4,204,000. Danske Bank A S acquired a new position in shares of Bunge Global in the 3rd quarter valued at $373,000. Stance Capital LLC purchased a new stake in shares of Bunge Global during the 3rd quarter valued at $34,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Bunge Global during the 3rd quarter worth $191,000. Institutional investors and hedge funds 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.