Brookfield Co. (NYSE:BN) Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,739,530 shares of the company's stock after selling 663,383 shares during the period. Brookfield accounts for 1.2% of Mackenzie Financial Corp's portfolio, making the stock its 14th biggest position. Mackenzie Financial Corp owned approximately 1.02% of Brookfield worth $961,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BN. Norges Bank acquired a new stake in shares of Brookfield during the fourth quarter worth $973,591,000. Baillie Gifford & Co. increased its holdings in shares of Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock worth $211,159,000 after acquiring an additional 3,271,403 shares during the period. Regents of The University of California acquired a new stake in shares of Brookfield in the 4th quarter worth about $154,140,000. Geode Capital Management LLC increased its holdings in shares of Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock worth $460,489,000 after acquiring an additional 1,930,218 shares during the period. Finally, Capital World Investors increased its holdings in shares of Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after acquiring an additional 1,782,034 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of NYSE:BN traded down $0.08 during trading hours on Thursday, hitting $57.61. 816,196 shares of the company's stock traded hands, compared to its average volume of 2,721,664. Brookfield Co. has a 52 week low of $39.97 and a 52 week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The company's fifty day simple moving average is $53.42 and its two-hundred day simple moving average is $56.19. The company has a market cap of $94.92 billion, a price-to-earnings ratio of 192.11 and a beta of 1.64.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, equities analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.62%. Brookfield's dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Morgan Stanley reaffirmed an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. TD Securities dropped their price objective on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Scotiabank dropped their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. Finally, CIBC dropped their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.