Bunge Limited [BG] Revenue clocked in at $67.23 billion, up 4.86% YTD: What’s Next?

Bunge Limited [NYSE: BG] price surged by 14.48 percent to reach at $13.23. The company report on March 14, 2023 that Corteva Agriscience, Bunge and Chevron Announce Collaboration to Produce Winter Canola to Meet Growing Demand for Lower Carbon Renewable Fuels.

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Corteva Inc. (NYSE: CTVA), Bunge (NYSE:BG) and Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today a commercial collaboration to introduce proprietary winter canola hybrids that produce plant-based oil with a lower carbon profile. The goal is to increase the availability of vegetable oil feedstocks primarily for the growing domestic renewable fuels market. The companies plan to introduce the winter canola crop into the southern United States with an intention to create a new revenue opportunity for farmers with a sustainable crop rotation.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230314005444/en/.

A sum of 39921883 shares traded at recent session while its average daily volume was at 1.01M shares. Bunge Limited shares reached a high of $106.99 and dropped to a low of $99.96 until finishing in the latest session at $104.62.

The one-year BG stock forecast points to a potential upside of 19.21. The average equity rating for BG stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Bunge Limited [BG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BG shares is $129.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BG stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Bunge Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 09, 2023. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on December 14, 2022, representing the official price target for Bunge Limited stock. Previously, the target price had yet another raise to $127, while Wolfe Research analysts kept a Outperform rating on BG stock. On July 07, 2022, analysts decreased their price target for BG shares from 130 to 106.

The Average True Range (ATR) for Bunge Limited is set at 3.29, with the Price to Sales ratio for BG stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 1.70, with the Price to Cash per share for the same quarter was set at 13.10.

BG Stock Performance Analysis:

Bunge Limited [BG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.66. With this latest performance, BG shares gained by 5.79% in over the last four-week period, additionally plugging by 10.23% over the last 6 months – not to mention a drop of -4.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BG stock in for the last two-week period is set at 63.45, with the RSI for the last a single of trading hit 68.25, and the three-weeks RSI is set at 60.25 for Bunge Limited [BG]. The present Moving Average for the last 50 days of trading for this stock 97.68, while it was recorded at 96.06 for the last single week of trading, and 96.40 for the last 200 days.

Insight into Bunge Limited Fundamentals:

Bunge Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.70.

BG Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bunge Limited go to -5.39%.

Bunge Limited [BG] Insider Position Details

There are presently around $13,359 million, or 87.80% of BG stock, in the hands of institutional investors. The top three institutional holders of BG stocks are: CAPITAL WORLD INVESTORS with ownership of 19,610,331, which is approximately 7.275% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 15,170,725 shares of the stock with an approximate value of $1.59 billion in BG stocks shares; and BLACKROCK INC., currently with $1.33 billion in BG stock with ownership of nearly 0.141% of the company’s market capitalization.

Positions in Bunge Limited stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 320 institutional holders increased their position in Bunge Limited [NYSE:BG] by around 9,092,211 shares. Additionally, 298 investors decreased positions by around 7,507,881 shares, while 71 investors held positions by with 111,090,839 shares. The mentioned changes placed institutional holdings at 127,690,931 shares, according to the latest SEC report filing. BG stock had 118 new institutional investments in for a total of 1,884,031 shares, while 59 institutional investors sold positions of 1,150,853 shares during the same period.


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