Bunge Global (NYSE:BG) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Bunge Global's stock (NYSE: BG) reached a new 52-week high after JPMorgan Chase & Co. upgraded its price target from $95.00 to $107.00, maintaining an overweight rating.
• Several brokerages have raised their price targets for Bunge Global, with BMO Capital Markets increasing its target to $110.00 and Morgan Stanley to $83.00, amidst a mixed analysts' rating of Buy and Hold.
• Insider transactions revealed that Director Christopher Mahoney purchased 5,000 shares, increasing his ownership by 231.05%, while institutional investors now own 86.23% of the company’s stock.

Shares of Bunge Global SA (NYSE:BG - Get Free Report) hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $95.00 to $107.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bunge Global traded as high as $98.11 and last traded at $97.04, with a volume of 990759 shares trading hands. The stock had previously closed at $93.09.

Several other brokerages also recently issued reports on BG. Morgan Stanley increased their price target on Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. BMO Capital Markets increased their price target on Bunge Global from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Bunge Global in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.57.

Insider Transactions at Bunge Global

In other Bunge Global news, Director Christopher Mahoney acquired 5,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the purchase, the director directly owned 7,164 shares of the company's stock, valued at approximately $585,513.72. This represents a 231.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bunge Global

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Bunge Global by 2.3% during the second quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company's stock worth $282,683,000 after purchasing an additional 80,082 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Bunge Global by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock valued at $255,756,000 after purchasing an additional 859,733 shares during the last quarter. Invesco Ltd. increased its stake in shares of Bunge Global by 3.8% in the 1st quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company's stock valued at $254,446,000 after purchasing an additional 122,931 shares during the last quarter. LSV Asset Management increased its stake in shares of Bunge Global by 2.1% in the 2nd quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company's stock valued at $171,467,000 after purchasing an additional 43,343 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Bunge Global in the 2nd quarter valued at $149,380,000. Institutional investors own 86.23% of the company's stock.

Bunge Global Stock Performance

The company has a market cap of $19.42 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 5.94 and a beta of 0.66. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $82.54 and a 200-day moving average price of $79.71.

Bunge Global (NYSE:BG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the previous year, the business earned $1.73 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. On average, equities analysts expect that Bunge Global SA will post 7.94 earnings per share for the current fiscal year.

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.

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