Mackenzie Financial Corp Decreases Holdings in The Mosaic Company (NYSE:MOS)

Mackenzie Financial Corp cut its stake in shares of The Mosaic Company (NYSE:MOS - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 950,949 shares of the basic materials company's stock after selling 294,809 shares during the period. Mackenzie Financial Corp owned about 0.30% of Mosaic worth $23,374,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MOS. Invesco Ltd. boosted its position in Mosaic by 29.3% in the fourth quarter. Invesco Ltd. now owns 13,507,131 shares of the basic materials company's stock worth $332,005,000 after purchasing an additional 3,058,243 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mosaic by 24.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,041,218 shares of the basic materials company's stock worth $271,382,000 after buying an additional 2,151,426 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mosaic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 8,621,001 shares of the basic materials company's stock worth $218,751,000 after buying an additional 269,650 shares during the last quarter. Northern Trust Corp grew its position in Mosaic by 5.9% during the fourth quarter. Northern Trust Corp now owns 5,171,642 shares of the basic materials company's stock valued at $127,119,000 after buying an additional 287,493 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Mosaic by 21.7% during the fourth quarter. Two Sigma Advisers LP now owns 3,990,500 shares of the basic materials company's stock worth $98,086,000 after buying an additional 711,300 shares during the last quarter. 77.54% of the stock is owned by hedge funds and other institutional investors.

Mosaic Price Performance

Mosaic stock traded up $0.26 during midday trading on Friday, reaching $36.17. 6,943,846 shares of the stock were exchanged, compared to its average volume of 4,699,944. The Mosaic Company has a 52 week low of $22.36 and a 52 week high of $36.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.49 and a current ratio of 1.19. The firm has a market cap of $11.47 billion, a PE ratio of 32.01, a PEG ratio of 1.42 and a beta of 1.09. The company's fifty day moving average is $29.81 and its 200-day moving average is $27.36.

Mosaic (NYSE:MOS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.04. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. Mosaic had a net margin of 3.24% and a return on equity of 6.00%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. On average, sell-side analysts forecast that The Mosaic Company will post 2.04 EPS for the current year.

Mosaic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.22 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.88 annualized dividend and a dividend yield of 2.43%. Mosaic's payout ratio is currently 75.86%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler reissued a "neutral" rating and set a $30.00 target price on shares of Mosaic in a research report on Thursday, March 27th. CIBC increased their price objective on Mosaic from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Wells Fargo & Company boosted their target price on Mosaic from $28.00 to $35.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. upped their price target on Mosaic from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada raised Mosaic from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $30.00 to $40.00 in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.58.

About Mosaic

The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.