Bunge Global (NYSE:BG) Price Target Raised to $110.00 at CICC Research

Bunge Global (NYSE:BG) had its price target increased by CICC Research from $90.00 to $110.00 in a report released on Friday,MarketScreener reports.

Other equities analysts also recently issued reports about the company. Barclays raised Bunge Global from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $105.00 to $120.00 in a research note on Thursday. Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Stephens boosted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Bunge Global from $95.00 to $107.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Bunge Global Stock Performance

Shares of BG stock traded down $0.24 during mid-day trading on Friday, hitting $94.54. The stock had a trading volume of 1,484,727 shares, compared to its average volume of 1,860,481. The firm has a market cap of $18.28 billion, a PE ratio of 9.44, a PEG ratio of 8.28 and a beta of 0.76. The company’s 50-day simple moving average is $86.72 and its 200-day simple moving average is $82.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. 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 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. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. Sell-side analysts anticipate that Bunge Global will post 7.94 earnings per share for the current year.

Insider Buying and Selling

In other Bunge Global news, Director Christopher Mahoney bought 5,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the acquisition, the director owned 7,164 shares of the company’s stock, valued at $585,513.72. The trade was a 231.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Bunge Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in shares of Bunge Global during the first quarter valued at approximately $1,561,000. M&T Bank Corp raised its holdings in Bunge Global by 4.9% in the 1st quarter. M&T Bank Corp now owns 6,619 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 312 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Bunge Global by 0.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,913 shares of the basic materials company’s stock worth $3,083,000 after purchasing an additional 226 shares during the period. Greenleaf Trust boosted its holdings in shares of Bunge Global by 9.7% during the first quarter. Greenleaf Trust now owns 4,057 shares of the basic materials company’s stock worth $310,000 after purchasing an additional 358 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Bunge Global by 23.6% during the first quarter. Nisa Investment Advisors LLC now owns 5,341 shares of the basic materials company’s stock worth $408,000 after purchasing an additional 1,021 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Company Profile

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.