Bunge Global SA (NYSE:BG) Receives $99.43 Consensus Target Price from Analysts

Bunge Global SA (NYSE:BG) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $101.5714.

Several equities research analysts have recently commented on BG shares. Morgan Stanley set a $95.00 price target on Bunge Global in a report on Monday, October 27th. Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Stephens lifted their price target on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Thursday.

Bunge Global Stock Performance

NYSE:BG opened at $94.54 on Monday. The firm’s fifty day simple moving average is $86.72 and its 200-day simple moving average is $82.12. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The stock has a market cap of $18.91 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $99.55.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $22.46 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The firm’s revenue was up 71.6% on a year-over-year basis. Analysts expect that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insider Activity at Bunge Global

In other Bunge Global news, Director Christopher Mahoney acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $81.73 per share, with a total value of $408,650.00. Following the purchase, the director directly owned 7,164 shares in the company, valued at approximately $585,513.72. This trade represents a 231.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bunge Global

Institutional investors have recently modified their holdings of the company. Glencore plc purchased a new stake in Bunge Global in the 3rd quarter valued at about $2,665,496,000. Norges Bank acquired a new stake in shares of Bunge Global in the second quarter worth approximately $149,380,000. AustralianSuper Pty Ltd purchased a new stake in Bunge Global in the first quarter valued at approximately $92,552,000. Dimensional Fund Advisors LP increased its position in Bunge Global by 34.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company’s stock worth $255,756,000 after purchasing an additional 859,733 shares during the last quarter. Finally, Ilex Capital Partners UK LLP raised its stake in Bunge Global by 383.7% during the second quarter. Ilex Capital Partners UK LLP now owns 891,673 shares of the basic materials company’s stock worth $71,584,000 after purchasing an additional 707,336 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.