Bunge Global (NYSE:BG) Stock Rating Upgraded by Zacks Research

Bunge Global (NYSE:BG) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Morgan Stanley set a $95.00 price target on shares of Bunge Global in a research report on Monday, October 27th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $105.00 to $120.00 in a report on Thursday, November 6th. Stephens lifted their target price on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. CICC Research upped their price target on Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Bunge Global Stock Down 1.0%

Shares of NYSE:BG opened at $94.36 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.83 and a debt-to-equity ratio of 0.57. The firm has a market cap of $18.24 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.48 and a beta of 0.79. The stock’s 50-day moving average price is $92.05 and its two-hundred day moving average price is $84.20. Bunge Global has a 12-month low of $67.40 and a 12-month high of $99.55.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.04. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The company’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. On average, research analysts forecast that Bunge Global will post 7.94 EPS for the current year.

Insider Buying and Selling at Bunge Global

In other news, VP Christos Dimopoulos sold 25,300 shares of the 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 sale, the vice president owned 104,537 shares in the company, valued at approximately $9,865,156.69. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Bunge Global

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC boosted its position in Bunge Global by 1,596.3% in the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock valued at $13,162,000 after buying an additional 154,279 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Bunge Global by 96.6% in the second quarter. Acadian Asset Management LLC now owns 152,308 shares of the basic materials company’s stock worth $12,226,000 after acquiring an additional 74,836 shares in the last quarter. Inspire Advisors LLC purchased a new position in Bunge Global in the second quarter valued at about $3,279,000. LSV Asset Management boosted its stake in shares of Bunge Global by 2.1% during 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 buying an additional 43,343 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Bunge Global during the 2nd quarter worth $382,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.