Nutrien Ltd. $NTR Shares Sold by CIBC Asset Management Inc

Key Points

• CIBC Asset Management cut its Nutrien stake by 34.1% in the fourth quarter, selling 261,153 shares and leaving it with 505,327 shares valued at about $31.2 million.
• Nutrien reported a strong quarter, with EPS of $0.51 topping estimates and revenue of $6.05 billion beating expectations; revenue rose 18.5% year over year.
• The company declared a quarterly dividend of $0.55 per share, implying an annual yield of about 3.2%, while analysts maintain a Moderate Buy consensus with a target price of $82.75.

CIBC Asset Management Inc lowered its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 34.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 505,327 shares of the company's stock after selling 261,153 shares during the quarter. CIBC Asset Management Inc owned 0.10% of Nutrien worth $31,218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTR. Norges Bank bought a new position in shares of Nutrien during the 4th quarter valued at about $412,635,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Nutrien by 19.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company's stock worth $834,962,000 after purchasing an additional 2,276,651 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Nutrien by 16.5% in the 3rd quarter. TD Asset Management Inc now owns 7,368,861 shares of the company's stock worth $432,838,000 after purchasing an additional 1,043,766 shares in the last quarter. Black Creek Investment Management Inc. raised its holdings in shares of Nutrien by 57.3% in the 3rd quarter. Black Creek Investment Management Inc. now owns 2,367,244 shares of the company's stock worth $139,050,000 after purchasing an additional 862,487 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Nutrien by 152.6% during the third quarter. Allianz Asset Management GmbH now owns 1,372,863 shares of the company's stock valued at $80,662,000 after purchasing an additional 829,275 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Nutrien Trading Up 0.7%

Nutrien stock opened at $68.97 on Thursday. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24. The firm has a market capitalization of $33.11 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.63 and a beta of 0.60. The company has a 50 day moving average price of $72.56 and a 200 day moving average price of $68.76.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Research analysts forecast that Nutrien Ltd. will post 5.45 EPS for the current year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Tuesday, June 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. Nutrien's dividend payout ratio (DPR) is presently 44.81%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NTR. Royal Bank Of Canada lifted their price target on shares of Nutrien from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on Nutrien from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Raymond James Financial raised Nutrien from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $74.00 to $90.00 in a research note on Tuesday, May 5th. Canadian Imperial Bank of Commerce decreased their target price on Nutrien from $90.00 to $88.00 and set an "outperformer" rating on the stock in a report on Thursday, April 30th. Finally, Barclays boosted their target price on Nutrien from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.75.

Nutrien Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien's business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.

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