Bunge Global (NYSE:BG) Shares Gap Up - Should You Buy?

Key Points

• Bunge Global saw a significant increase in its stock price, opening at $88.79 after a previous close of $82.41 and last trading at $92.45 amidst a trading volume of 797,220 shares.
• Analysts have mixed ratings on Bunge Global, with three issuing a Buy rating, four giving a Hold rating, and a consensus target price of $85.33.
• The company reported a Q2 earnings per share (EPS) of $1.31, which exceeded the consensus estimate of $1.19, despite a year-over-year revenue decline of 3.6%.

Bunge Global SA (NYSE:BG - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $82.41, but opened at $88.79. Bunge Global shares last traded at $92.45, with a volume of 797,220 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BG. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bunge Global in a research report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Bunge Global in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 price target for the company. Finally, Morgan Stanley lifted their price target on Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $85.33.

Bunge Global Stock Performance

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 50 day simple moving average of $82.30 and a 200 day simple moving average of $79.61. The company has a market capitalization of $18.28 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 6.04 and a beta of 0.66.

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

Insider Activity

In other Bunge Global news, Director Christopher Mahoney acquired 5,000 shares of Bunge Global stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the transaction, the director owned 7,164 shares in the company, valued at approximately $585,513.72. This represents a 231.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Bunge Global

A number of institutional investors have recently added to or reduced their stakes in BG. Norges Bank acquired a new stake in Bunge Global in the second quarter worth approximately $149,380,000. AustralianSuper Pty Ltd acquired a new stake in Bunge Global in the first quarter worth approximately $92,552,000. Dimensional Fund Advisors LP lifted its position in Bunge Global by 34.6% in 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 period. Ilex Capital Partners UK LLP lifted its position in Bunge Global by 383.7% in 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. Finally, Nuveen LLC bought a new position in shares of Bunge Global in the first quarter valued at $40,963,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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