Baillie Gifford & Co. Reduces Stock Holdings in Lineage, Inc. (NASDAQ:LINE)

Key Points

• Baillie Gifford & Co. has reduced its stake in Lineage, Inc. by 4.6%, now owning 2,954,723 shares worth $173.2 million, following the sale of 143,857 shares in the first quarter.
• Multiple analysts have recently downgraded Lineage's stock ratings, with BNP Paribas Exane lowering it to "underperform" and setting a price target of $42, while consensus among analysts is a "Hold" rating with an average target of $61.15.
• Lineage has declared a quarterly dividend of $0.5275 per share, yielding 4.88%, despite having a negative net margin and a dividend payout ratio of -65.53%.

Baillie Gifford & Co. trimmed its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,954,723 shares of the company's stock after selling 143,857 shares during the quarter. Baillie Gifford & Co. owned 1.29% of Lineage worth $173,235,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Machina Capital S.A.S. acquired a new position in shares of Lineage during the first quarter worth approximately $513,000. Oak Thistle LLC raised its position in Lineage by 201.6% in the 1st quarter. Oak Thistle LLC now owns 20,112 shares of the company's stock valued at $1,179,000 after buying an additional 13,443 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Lineage in the 1st quarter valued at $269,000. CWM LLC raised its position in Lineage by 3,508.2% in the 1st quarter. CWM LLC now owns 2,634 shares of the company's stock valued at $154,000 after buying an additional 2,561 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Lineage during the 1st quarter valued at $218,000.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the purchase, the chairman owned 27,733 shares in the company, valued at $1,213,318.75. This trade represents a 70.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $44.93 per share, with a total value of $491,938.57. Following the purchase, the chairman owned 35,266 shares of the company's stock, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 26,869 shares of company stock worth $1,194,980 over the last ninety days. Insiders own 71.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LINE shares. The Goldman Sachs Group decreased their target price on Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Piper Sandler decreased their target price on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Scotiabank cut their price target on Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Bank of America cut Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price objective on the stock. in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut Lineage from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $75.00 to $50.00 in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Lineage currently has an average rating of "Hold" and a consensus price target of $61.15.

Lineage Price Performance

NASDAQ LINE traded up $0.78 on Tuesday, reaching $43.78. 212,884 shares of the company's stock traded hands, compared to its average volume of 991,742. Lineage, Inc. has a 12 month low of $40.49 and a 12 month high of $89.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.86. The stock has a 50-day simple moving average of $43.90 and a 200 day simple moving average of $51.52. The stock has a market cap of $10.01 billion and a PE ratio of -13.60.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. The firm's revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's payout ratio is currently -65.53%.

About Lineage

Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.