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

Bunge Global (NYSE:BG) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $109.00 to $117.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.06% from the stock’s current price.

Several other research analysts have also recently commented on BG. Zacks Research upgraded shares of Bunge Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. UBS Group boosted their target price on shares of Bunge Global from $100.00 to $108.00 in a report on Wednesday, December 24th. Morgan Stanley raised Bunge Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $120.00 in a research note on Tuesday, December 16th. Bank of America lifted their target price on shares of Bunge Global from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, BMO Capital Markets upped their price target on Bunge Global from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. 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 stock. According to MarketBeat.com, Bunge Global currently has an average rating of “Buy” and an average price target of $110.67.

Bunge Global Stock Performance

Shares of NYSE:BG traded up $1.30 on Wednesday, reaching $111.36. 446,849 shares of the company’s stock were exchanged, compared to its average volume of 1,819,377. The company has a quick ratio of 0.83, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $111.51. The business’s 50-day moving average is $95.01 and its two-hundred day moving average is $87.77. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.63 and a beta of 0.78.

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

Insiders Place Their Bets

In other news, VP Christos Dimopoulos sold 25,300 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was 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 trade represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Bunge Global

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