Allstate Corp Cuts Stock Holdings in Ford Motor Company $F

Key Points

• Allstate reduced its Ford stake by 31.3% in the second quarter, selling 152,532 shares and retaining 334,896 shares valued at approximately $4.7 million. Institutional ownership remains substantial at 58.74%.
• Ford exceeded quarterly expectations, reporting $0.42 in EPS versus $0.33 expected and $48.3 billion in revenue, though revenue declined 3.8% year over year and the company posted a negative net margin.
• Ford declared a quarterly dividend of $0.15 per share, equivalent to a 4.2% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $15.68, compared with a recent share price of $14.44.

Allstate Corp trimmed its stake in Ford Motor Company (NYSE:F - Free Report) by 31.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,896 shares of the auto manufacturer's stock after selling 152,532 shares during the period. Allstate Corp's holdings in Ford Motor were worth $4,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. OMERS ADMINISTRATION Corp lifted its position in Ford Motor by 18.0% during the second quarter. OMERS ADMINISTRATION Corp now owns 462,269 shares of the auto manufacturer's stock valued at $6,426,000 after purchasing an additional 70,549 shares during the last quarter. E20 Capital Ltd purchased a new stake in shares of Ford Motor during the 2nd quarter valued at $57,991,000. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Ford Motor by 4.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,160 shares of the auto manufacturer's stock valued at $308,000 after buying an additional 1,025 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Ford Motor during the 2nd quarter worth $3,285,000. Finally, Bank of Nova Scotia grew its position in Ford Motor by 337.4% in the second quarter. Bank of Nova Scotia now owns 2,633,643 shares of the auto manufacturer's stock worth $36,608,000 after acquiring an additional 2,031,576 shares in the last quarter. 58.74% of the stock is owned by hedge funds and other institutional investors.

Ford Motor Price Performance

F stock opened at $14.44 on Monday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.93 and a current ratio of 1.09. Ford Motor Company has a 52 week low of $11.11 and a 52 week high of $17.78. The firm's fifty day moving average is $14.12 and its 200 day moving average is $13.51. The firm has a market cap of $57.58 billion, a P/E ratio of -7.72, a P/E/G ratio of 0.30 and a beta of 1.82.

Ford Motor (NYSE:F - Get Free Report) last issued its earnings results on Tuesday, July 28th. The auto manufacturer reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.09. The company had revenue of $48.30 billion for the quarter, compared to analysts' expectations of $47.24 billion. Ford Motor had a negative net margin of 3.93% and a positive return on equity of 17.23%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Research analysts predict that Ford Motor Company will post 1.86 earnings per share for the current year.

Ford Motor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, August 11th. Ford Motor's dividend payout ratio (DPR) is -32.09%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on F. Royal Bank Of Canada increased their target price on Ford Motor from $13.00 to $15.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 29th. Jefferies Financial Group raised Ford Motor from a "hold" rating to a "buy" rating and lifted their price target for the stock from $14.50 to $17.50 in a research note on Monday, July 27th. BNP Paribas Exane upped their price objective on Ford Motor from $14.00 to $14.50 and gave the stock a "neutral" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. increased their price objective on Ford Motor from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their price objective on Ford Motor from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.68.

Ford Motor Company Profile

Ford Motor Company NYSE: F is an American multinational automaker headquartered in Dearborn, Michigan. Founded by Henry Ford in 1903, the company became an early pioneer of mass-production techniques with the Model T and the adoption of the moving assembly line. Today, Ford designs, manufactures, markets and services a broad range of vehicles and mobility solutions under the Ford and Lincoln brands, spanning passenger cars, SUVs, pickup trucks and commercial vehicles.

Ford's business activities extend beyond vehicle production to include parts and aftermarket services, fleet and commercial sales, and automotive financing through Ford Motor Credit Company.

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