Royal Bank of Canada Increases Holdings in The Mosaic Company (NYSE:MOS)

Royal Bank of Canada increased its position in The Mosaic Company (NYSE:MOS - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 903,184 shares of the basic materials company's stock after purchasing an additional 36,635 shares during the period. Royal Bank of Canada owned approximately 0.28% of Mosaic worth $22,202,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Impact Partnership Wealth LLC bought a new stake in Mosaic in the 4th quarter worth about $326,000. Fifth Third Bancorp raised its position in shares of Mosaic by 84.2% in the fourth quarter. Fifth Third Bancorp now owns 21,444 shares of the basic materials company's stock valued at $527,000 after purchasing an additional 9,805 shares during the period. First Citizens Bank & Trust Co. bought a new position in Mosaic in the 4th quarter worth approximately $2,983,000. 1834 Investment Advisors Co. grew its position in shares of Mosaic by 56.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 16,749 shares of the basic materials company's stock valued at $412,000 after purchasing an additional 6,051 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in Mosaic by 31.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,287 shares of the basic materials company's stock valued at $253,000 after buying an additional 2,436 shares in the last quarter. 77.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays reiterated an "overweight" rating and issued a $40.00 target price (up from $33.00) on shares of Mosaic in a research note on Wednesday, May 14th. Royal Bank of Canada raised Mosaic from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $30.00 to $40.00 in a research note on Thursday, May 8th. UBS Group lifted their price target on shares of Mosaic from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Oppenheimer raised their price objective on Mosaic from $33.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler reissued a "neutral" rating and set a $30.00 price objective on shares of Mosaic in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.58.

Mosaic Stock Up 0.8%

Mosaic stock traded up $0.29 during trading hours on Friday, hitting $36.20. 653,777 shares of the stock traded hands, compared to its average volume of 4,689,741. The company has a market cap of $11.49 billion, a PE ratio of 32.07, a PEG ratio of 1.42 and a beta of 1.09. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27. The firm's 50-day moving average price is $29.63 and its two-hundred day moving average price is $27.28. The Mosaic Company has a one year low of $22.36 and a one year high of $36.27.

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

Mosaic Announces Dividend

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

Mosaic Profile

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.