Bunge Global (NYSE:BG) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Bunge Global SA (NYSE:BG) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $86.33 and traded as high as $99.28. Bunge Global shares last traded at $97.35, with a volume of 2,363,676 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BG shares. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $105.00 to $120.00 in a report on Thursday, November 6th. CICC Research boosted their price objective on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. BMO Capital Markets increased their price objective on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. lifted their target price on Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Bunge Global in a report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $109.00.

Bunge Global Stock Performance

The company’s 50-day moving average is $93.43 and its two-hundred day moving average is $86.44. The company has a market capitalization of $19.34 billion, a P/E ratio of 13.30, a PEG ratio of 2.18 and a beta of 0.78. 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 (NYSE:BG) last released its quarterly earnings results 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. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The business’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. Equities analysts anticipate that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Christos Dimopoulos sold 25,300 shares of the company’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 completion of the transaction, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Institutional Trading of Bunge Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Bunge Global in the third quarter worth $25,000. CoreCap Advisors LLC grew its holdings in Bunge Global by 2,000.0% in the 3rd quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 300 shares during the last quarter. Cromwell Holdings LLC increased its position 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 valued at $27,000 after acquiring an additional 334 shares during the period. Root Financial Partners LLC bought a new position in shares of Bunge Global during the third quarter valued at about $28,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Bunge Global during the second quarter worth about $29,000. Institutional investors 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.