Townsquare Capital LLC Has $1.06 Million Position in Bunge Global SA (NYSE:BG)

Key Points

• Townsquare Capital LLC significantly increased its stake in Bunge Global SA by 427.6%, owning 13,813 shares valued at $1.06 million by the end of Q1.
• Wall Street analysts have mixed views on Bunge Global, with a price target range set between $83.00 and $90.00, reflecting an average rating of "Hold."
• Bunge Global recently reported a quarterly EPS of $1.31, exceeding estimates, though revenue declined by 3.6% year-over-year to $12.77 billion.

Townsquare Capital LLC boosted its holdings in Bunge Global SA (NYSE:BG - Free Report) by 427.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,813 shares of the basic materials company's stock after purchasing an additional 11,195 shares during the quarter. Townsquare Capital LLC's holdings in Bunge Global were worth $1,056,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Manchester Capital Management LLC boosted its holdings in Bunge Global by 588.5% during the 1st quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company's stock worth $32,000 after acquiring an additional 359 shares during the last quarter. UMB Bank n.a. boosted its holdings in Bunge Global by 163.1% during the 1st quarter. UMB Bank n.a. now owns 421 shares of the basic materials company's stock worth $32,000 after acquiring an additional 261 shares during the last quarter. Riverview Trust Co boosted its holdings in Bunge Global by 130.8% during the 1st quarter. Riverview Trust Co now owns 450 shares of the basic materials company's stock worth $34,000 after acquiring an additional 255 shares during the last quarter. Spire Wealth Management boosted its holdings in Bunge Global by 66.5% during the 1st quarter. Spire Wealth Management now owns 556 shares of the basic materials company's stock worth $42,000 after acquiring an additional 222 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in Bunge Global during the 1st quarter worth $42,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Wall Street Analyst Weigh In

BG has been the topic of a number of analyst reports. Morgan Stanley set a $83.00 price objective on shares of Bunge Global and gave the stock an "equal weight" rating in a report on Tuesday. Stephens lowered their target price on Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $83.40.

Bunge Global Trading Down 1.4%

NYSE BG opened at $82.11 on Friday. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 5.14 and a beta of 0.67. Bunge Global SA has a one year low of $67.40 and a one year high of $101.81. 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 business's fifty day moving average is $79.25 and its 200-day moving average is $76.88.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.12. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%. The company had revenue of $12.77 billion for the quarter, compared to analysts' expectations of $12.57 billion. During the same period in the previous year, the business posted $1.73 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, February 17th. Bunge Global's payout ratio is currently 27.97%.

Bunge Global 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.

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