Mackenzie Financial Corp Lowers Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Mackenzie Financial Corp reduced its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,800,691 shares of the company's stock after selling 452,832 shares during the quarter. Mackenzie Financial Corp owned 1.59% of Nutrien worth $348,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in Nutrien by 6.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 92,018 shares of the company's stock valued at $4,116,000 after buying an additional 5,420 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Nutrien by 36.1% during the 4th quarter. Burgundy Asset Management Ltd. now owns 130,000 shares of the company's stock worth $5,811,000 after buying an additional 34,500 shares during the period. Vise Technologies Inc. bought a new stake in shares of Nutrien during the 4th quarter worth $222,000. Two Sigma Advisers LP boosted its holdings in shares of Nutrien by 211.4% during the 4th quarter. Two Sigma Advisers LP now owns 67,317 shares of the company's stock worth $3,012,000 after buying an additional 45,700 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of Nutrien by 45.7% during the 4th quarter. Two Sigma Investments LP now owns 301,505 shares of the company's stock worth $13,492,000 after buying an additional 94,554 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Nutrien Stock Down 0.9%

Shares of NYSE:NTR traded down $0.53 during midday trading on Thursday, reaching $59.03. The company's stock had a trading volume of 829,098 shares, compared to its average volume of 2,374,933. The firm has a 50 day moving average of $53.84 and a 200-day moving average of $50.83. The firm has a market capitalization of $28.82 billion, a P/E ratio of 43.09, a PEG ratio of 1.19 and a beta of 0.79. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien Ltd. has a 12-month low of $43.69 and a 12-month high of $60.50.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.24). The company had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $5.16 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company's revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. On average, research analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 30th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, June 30th. Nutrien's dividend payout ratio (DPR) is 203.74%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. The Goldman Sachs Group increased their price target on shares of Nutrien from $53.00 to $59.00 and gave the company a "sell" rating in a report on Friday, May 9th. BNP Paribas raised shares of Nutrien to a "strong-buy" rating in a report on Wednesday, April 9th. Mizuho lifted their price target on shares of Nutrien from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, CIBC raised their price objective on shares of Nutrien from $64.00 to $66.00 and gave the company an "outperformer" rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.44.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.