JPMorgan Chase & Co. Begins Coverage on Bunge Global (NYSE:BG)

Key Points

• JPMorgan Chase & Co. has reaffirmed an "overweight" rating on Bunge Global (BG), setting a target price of $95.00, reflecting a potential upside of 19.02% from the company's previous close.
• According to analysts, Bunge Global is currently rated as a "Moderate Buy" with an average price target of $85.33, while Morgan Stanley and Stephens provided varying target prices of $83.00 and $85.00, respectively.
• In its latest quarterly earnings report, Bunge Global reported $1.31 EPS, exceeding expectations, but its revenue fell 3.6% year-over-year at $12.77 billion.

JPMorgan Chase & Co. initiated coverage on shares of Bunge Global (NYSE:BG - Free Report) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $95.00 price target on the basic materials company's stock.

A number of other research firms also recently issued reports on BG. Stephens dropped their target price on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley upped their price objective 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.33.

Bunge Global Stock Up 1.2%

Shares of Bunge Global stock traded up $1.0050 during trading on Wednesday, reaching $88.1150. 938,543 shares of the company traded hands, compared to its average volume of 1,840,100. 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 1-year low of $67.40 and a 1-year high of $101.81. The company has a 50 day moving average price of $79.97 and a 200-day moving average price of $77.24. The firm has a market capitalization of $17.63 billion, a PE ratio of 8.80, a P/E/G ratio of 5.82 and a beta of 0.67.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter in the previous year, the company earned $1.73 EPS. Bunge Global'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. As a group, equities research analysts expect that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Bunge Global Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, August 19th. This represents a dividend yield of 342.0%. Bunge Global's dividend payout ratio is presently 27.97%.

Insider Activity

In other news, Director Christopher Mahoney bought 5,000 shares of Bunge Global stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $81.73 per share, for a total transaction of $408,650.00. Following the purchase, the director directly owned 7,164 shares in the company, valued at $585,513.72. The trade was a 231.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Bunge Global

Several institutional investors have recently made changes to their positions in BG. Raymond James Financial Inc. bought a new stake in shares of Bunge Global in the 4th quarter worth $1,994,000. Townsquare Capital LLC bought a new stake in shares of Bunge Global in the 4th quarter worth $204,000. First Trust Advisors LP grew its stake in shares of Bunge Global by 24.5% in the 4th quarter. First Trust Advisors LP now owns 502,870 shares of the basic materials company's stock worth $39,103,000 after acquiring an additional 98,819 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Bunge Global by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,486,976 shares of the basic materials company's stock valued at $193,379,000 after buying an additional 183,701 shares during the period. Finally, State of Tennessee Department of Treasury grew its position in Bunge Global by 12.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 78,318 shares of the basic materials company's stock valued at $6,090,000 after buying an additional 8,691 shares during the period. Institutional investors 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.