JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Bunge Global (NYSE:BG) Stock

Bunge Global (NYSE:BG) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $109.00 to $117.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.06% from the company’s current price.

Other research analysts have also issued reports about the company. Stephens raised their price target on Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Zacks Research raised Bunge Global from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Bunge Global in a research report on Wednesday, December 24th. Citigroup reaffirmed a “buy” rating on shares of Bunge Global in a research note on Tuesday, December 2nd. Finally, UBS Group increased their price target on shares of Bunge Global from $100.00 to $108.00 in a research report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Bunge Global currently has a consensus rating of “Buy” and an average target price of $110.67.

Bunge Global Trading Up 1.2%

NYSE:BG traded up $1.30 on Wednesday, hitting $111.36. 446,849 shares of the stock were exchanged, compared to its average volume of 1,819,377. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.83 and a current ratio of 1.66. Bunge Global has a 52 week low of $67.40 and a 52 week high of $111.51. The stock has a market capitalization of $21.53 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.63 and a beta of 0.78. The company’s 50-day moving average price is $95.01 and its 200 day moving average price is $87.77.

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

Insider Activity at Bunge Global

In related news, VP Christos Dimopoulos sold 25,300 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $94.37, for a total value of $2,387,561.00. Following the completion of the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at approximately $9,865,156.69. This represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bunge Global

Institutional investors have recently bought and sold shares of the company. United Services Automobile Association bought a new stake in shares of Bunge Global in the first quarter worth $223,000. Woodline Partners LP increased its stake in Bunge Global by 34.5% in the 1st quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company’s stock valued at $862,000 after buying an additional 2,893 shares during the last quarter. Focus Partners Wealth lifted its position in Bunge Global by 16.7% during the 1st quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company’s stock worth $309,000 after buying an additional 580 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Bunge Global by 12.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the basic materials company’s stock worth $922,000 after buying an additional 1,342 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Bunge Global by 5.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,434 shares of the basic materials company’s stock valued at $3,888,000 after acquiring an additional 2,409 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Company Profile

Bunge Global is a leading agribusiness and food company that processes oilseeds and grains, produces sugar and bioenergy, and supplies fertilizers and other agricultural inputs. The company operates an integrated value chain that spans origination, processing, and distribution, enabling it to serve food processors, livestock producers, and retail customers worldwide. Through its network of processing plants, port terminals and logistics assets, Bunge handles a diverse portfolio of commodities, including soybeans, corn, wheat, vegetable oils, and sugarcane.

The company’s core business activities are organized into agribusiness and food & ingredients segments.