Mackenzie Financial Corp Sells 601,981 Shares of Celestica, Inc. (NYSE:CLS)

Key Points

• Mackenzie Financial Corp reduced its holdings in Celestica, Inc. by 79.1%, selling 601,981 shares and now owning 159,103 shares valued at approximately $12.55 million.
• Brokerages have recently revised their price targets for Celestica, with Royal Bank of Canada increasing its target from $185 to $225, indicating a generally positive outlook.
• Celestica has experienced significant stock price fluctuations, with a 12-month low of $40.25 and a high of $214.47, and currently holds a market capitalization of $23 billion.

Mackenzie Financial Corp reduced its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 79.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 159,103 shares of the technology company's stock after selling 601,981 shares during the quarter. Mackenzie Financial Corp owned about 0.14% of Celestica worth $12,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CLS. Rothschild Investment LLC acquired a new position in shares of Celestica during the first quarter worth approximately $26,000. Pinpoint Asset Management Ltd raised its holdings in Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after buying an additional 182 shares during the last quarter. ORG Partners LLC bought a new position in shares of Celestica in the first quarter valued at $29,000. Center for Financial Planning Inc. bought a new position in shares of Celestica in the first quarter valued at $30,000. Finally, Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter valued at about $42,000. Institutional investors own 67.38% of the company's stock.

Celestica Stock Performance

NYSE:CLS traded down $5.02 during trading on Friday, reaching $194.84. The company's stock had a trading volume of 4,540,278 shares, compared to its average volume of 3,943,369. Celestica, Inc. has a 12 month low of $40.25 and a 12 month high of $214.47. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 42.17 and a beta of 1.80. The firm has a 50 day moving average of $147.75 and a 200-day moving average of $116.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.44.

Analysts Set New Price Targets

CLS has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Canaccord Genuity Group boosted their price objective on Celestica from $126.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday. UBS Group reissued a "neutral" rating and issued a $208.00 price objective (up from $101.00) on shares of Celestica in a research note on Wednesday. Citigroup lifted their target price on Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Barclays upped their price target on Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $168.92.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.