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

Key Points

• Mackenzie Financial Corp increased its stake in Nutrien Ltd. by 0.7%, owning approximately 7.86 million shares worth $389.86 million as of the latest SEC filing.
• Several hedge funds also significantly boosted their positions in Nutrien during the first quarter, with GAMMA Investing LLC increasing its position by 4,866.7%.
• Research analysts have mixed ratings on Nutrien, with the stock having a consensus rating of "Hold" and an average price target of $63.22.

Mackenzie Financial Corp raised its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,855,609 shares of the company's stock after purchasing an additional 54,918 shares during the quarter. Mackenzie Financial Corp owned approximately 1.61% of Nutrien worth $389,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NTR. Allworth Financial LP increased its position in Nutrien by 117.1% during the 1st quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after purchasing an additional 506 shares during the period. GAMMA Investing LLC increased its position in Nutrien by 4,866.7% during the 1st quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock valued at $52,000 after purchasing an additional 1,022 shares during the period. Summit Securities Group LLC increased its position in Nutrien by 225.0% during the 4th quarter. Summit Securities Group LLC now owns 1,300 shares of the company's stock valued at $58,000 after purchasing an additional 900 shares during the period. HM Payson & Co. purchased a new position in Nutrien during the 1st quarter valued at $65,000. Finally, Bessemer Group Inc. increased its position in Nutrien by 163.7% during the 1st quarter. Bessemer Group Inc. now owns 1,690 shares of the company's stock valued at $84,000 after purchasing an additional 1,049 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NTR shares. Oppenheimer boosted their price objective on shares of Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Barclays upped their target price on shares of Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $66.00 target price (up from $63.00) on shares of Nutrien in a research report on Friday, July 11th. Raymond James Financial downgraded shares of Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 target price on the stock. in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Nutrien in a research report on Monday, July 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $63.22.

Nutrien Price Performance

NTR opened at $60.09 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 1.22. The stock has a market capitalization of $29.27 billion, a P/E ratio of 56.16, a P/E/G ratio of 1.09 and a beta of 0.80. The company's 50-day simple moving average is $60.04 and its two-hundred day simple moving average is $54.91. Nutrien Ltd. has a 52-week low of $43.69 and a 52-week high of $65.08.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.24). The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $5.16 billion. Nutrien had a net margin of 2.05% and a return on equity of 6.08%. Nutrien's revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, analysts predict that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, June 30th were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Monday, June 30th. Nutrien's payout ratio is currently 203.74%.

Nutrien Profile

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.

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