Sather Financial Group Inc Sells 53,881 Shares of Brookfield Corporation (NYSE:BN)

Key Points

• Sather Financial Group Inc reduced its stake in Brookfield Corporation by 3.5%, holding approximately 1.47 million shares valued at $77 million, marking it as their 4th largest holding.
• Brookfield Corporation has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target of $66.13, while some firms have downgraded their target prices.
• The company reported a quarterly earnings per share (EPS) of $0.98, exceeding analyst expectations, and also declared a quarterly dividend of $0.09 per share, reflecting a yield of 0.53%.

Sather Financial Group Inc lessened its position in Brookfield Corporation (NYSE:BN - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,469,737 shares of the company's stock after selling 53,881 shares during the period. Brookfield makes up 5.0% of Sather Financial Group Inc's investment portfolio, making the stock its 4th largest holding. Sather Financial Group Inc owned 0.09% of Brookfield worth $77,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital World Investors lifted its stake in shares of Brookfield by 3.1% in the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company's stock valued at $3,390,786,000 after purchasing an additional 1,782,034 shares during the period. FIL Ltd increased its holdings in Brookfield by 8.8% during the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock valued at $1,169,912,000 after acquiring an additional 1,640,903 shares in the last quarter. Norges Bank acquired a new position in Brookfield during the fourth quarter worth about $973,591,000. The Manufacturers Life Insurance Company raised its position in Brookfield by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company's stock worth $682,497,000 after acquiring an additional 129,735 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Brookfield by 32.0% during the fourth 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 last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Stock Up 0.7%

NYSE:BN traded up $0.51 during mid-day trading on Wednesday, hitting $68.30. The company had a trading volume of 740,961 shares, compared to its average volume of 2,634,934. Brookfield Corporation has a 1 year low of $42.21 and a 1 year high of $68.75. The business has a fifty day simple moving average of $61.44 and a 200-day simple moving average of $57.31. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $112.60 billion, a price-to-earnings ratio of 244.00 and a beta of 1.66.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Equities analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BN shares. Royal Bank Of Canada started coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 target price for the company. CIBC lowered their price target on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. National Bankshares set a $82.00 price target on shares of Brookfield and gave the stock an "outperform" rating in a report on Tuesday. Scotiabank lowered their price target on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Finally, National Bank Financial initiated coverage on shares of Brookfield in a report on Tuesday. They set an "outperform" rating and a $82.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.30.

Brookfield Company 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.