Jacobs Levy Equity Management Inc. Cuts Holdings in Teekay Co. (NYSE:TK)

Jacobs Levy Equity Management Inc. reduced its position in shares of Teekay Co. (NYSE:TK - Free Report) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,115 shares of the shipping company's stock after selling 30,425 shares during the period. Jacobs Levy Equity Management Inc. owned 0.05% of Teekay worth $320,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TK. Empowered Funds LLC purchased a new position in shares of Teekay in the fourth quarter worth about $4,945,000. JPMorgan Chase & Co. increased its stake in shares of Teekay by 47.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,043,479 shares of the shipping company's stock worth $7,231,000 after purchasing an additional 338,105 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Teekay by 738.1% in the fourth quarter. Alliancebernstein L.P. now owns 357,890 shares of the shipping company's stock worth $2,480,000 after purchasing an additional 315,190 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Teekay by 9.9% in the fourth quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company's stock worth $14,013,000 after purchasing an additional 181,474 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Teekay in the fourth quarter worth about $975,000. 46.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Teekay from a "buy" rating to a "hold" rating in a research note on Monday.

Teekay Stock Up 1.7%

NYSE:TK traded up $0.14 during mid-day trading on Friday, hitting $8.33. 565,987 shares of the stock traded hands, compared to its average volume of 759,281. The business's 50-day moving average price is $7.06 and its 200 day moving average price is $7.04. The company has a market cap of $764.99 million, a PE ratio of 5.91 and a beta of 0.37. Teekay Co. has a 12-month low of $5.65 and a 12-month high of $9.95.

Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.19 EPS for the quarter. The company had revenue of $161.63 million during the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%.

Teekay Announces Dividend

The company also recently disclosed a -- dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's dividend payout ratio is currently 17.73%.

Teekay Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.