Teza Capital Management LLC Has $2.05 Million Stake in Bunge Global SA (NYSE:BG)

Teza Capital Management LLC boosted its stake in Bunge Global SA (NYSE:BG) by 569.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,366 shares of the basic materials company’s stock after purchasing an additional 22,426 shares during the period. Teza Capital Management LLC’s holdings in Bunge Global were worth $2,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its holdings in Bunge Global by 9.5% in the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company’s stock valued at $18,815,000 after purchasing an additional 20,942 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Bunge Global by 7.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 278 shares during the period. Vontobel Holding Ltd. increased its holdings in Bunge Global by 39.6% in the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company’s stock valued at $1,665,000 after purchasing an additional 6,077 shares during the period. Assenagon Asset Management S.A. increased its holdings in Bunge Global by 12.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company’s stock valued at $2,935,000 after purchasing an additional 4,296 shares during the period. Finally, Orca Wealth Management LLC acquired a new stake in Bunge Global in the fourth quarter valued at $1,238,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

BG stock opened at $81.52 on Friday. The stock has a market capitalization of $10.96 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The company’s 50-day moving average is $76.73 and its 200-day moving average is $78.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.54. The company had revenue of $11.64 billion for the quarter, compared to analysts’ expectations of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The business’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. Equities research analysts expect that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, May 19th. This is a boost from Bunge Global’s previous quarterly dividend of $0.68. Bunge Global’s dividend payout ratio is 34.52%.

Analyst Upgrades and Downgrades

A number of analysts have commented on BG shares. Barclays cut their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Citigroup upped their price target on shares of Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Bank of America cut their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stephens cut their price target 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. Finally, Morgan Stanley cut their price target on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.60.

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.