Bunge Global (NYSE:BG) Upgraded to "Hold" at Zacks Research

Key Points

• Bunge Global has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting improved analyst sentiment regarding the stock.
• Analysts have varying price targets for Bunge Global, with BMO Capital Markets setting a target of $110.00 and JPMorgan Chase & Co. at $107.00, both indicating strong potential upside.
• Bunge Global's recent quarterly earnings surpassed expectations, reporting $1.31 EPS, which was $0.12 above consensus estimates, despite a year-over-year revenue decline of 3.6%.

Bunge Global (NYSE:BG - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on BG. Weiss Ratings restated a "hold (c)" rating on shares of Bunge Global in a research report on Wednesday, October 8th. BMO Capital Markets boosted their price objective on shares of Bunge Global from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Bunge Global from $95.00 to $107.00 and gave the stock an "overweight" rating in a research report on Thursday, October 16th. Morgan Stanley lifted their target price on shares of Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Finally, Barclays lifted their target price on shares of Bunge Global from $85.00 to $105.00 and gave the stock an "equal weight" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Bunge Global presently has an average rating of "Hold" and an average price target of $97.71.

Bunge Global Stock Performance

BG stock opened at $94.80 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29. The company has a 50 day moving average price of $83.63 and a 200 day moving average price of $80.27. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $99.40. The stock has a market capitalization of $18.97 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 8.44 and a beta of 0.66.

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

Insider Activity

In other news, Director Christopher Mahoney purchased 5,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $81.73 per share, with a total value of $408,650.00. Following the acquisition, 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 document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bunge Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Bunge Global by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company's stock valued at $282,683,000 after buying an additional 80,082 shares during the period. Dimensional Fund Advisors LP lifted its position in 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 acquiring an additional 859,733 shares in the last quarter. Invesco Ltd. lifted its position in 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 acquiring an additional 122,931 shares in the last quarter. LSV Asset Management lifted its position in 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 acquiring an additional 43,343 shares in the last quarter. Finally, Norges Bank bought a new stake in Bunge Global during the 2nd quarter worth about $149,380,000. 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.

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