Teekay Corporation (TK) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lessened its holdings in shares of Teekay Corporation (NYSE:TK) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 95,647 shares of the shipping company’s stock after selling 900 shares during the period. California State Teachers Retirement System owned 0.11% of Teekay worth $638,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Teekay by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 299,070 shares of the shipping company’s stock valued at $1,994,000 after acquiring an additional 42,147 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Teekay by 404.5% during the second quarter. Goldman Sachs Group Inc. now owns 566,352 shares of the shipping company’s stock valued at $3,778,000 after acquiring an additional 454,087 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Teekay during the second quarter valued at $865,000. Wells Fargo & Company MN lifted its stake in shares of Teekay by 65.6% during the second quarter. Wells Fargo & Company MN now owns 71,609 shares of the shipping company’s stock valued at $477,000 after acquiring an additional 28,365 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Teekay by 70.9% during the second quarter. Alliancebernstein L.P. now owns 122,500 shares of the shipping company’s stock valued at $817,000 after acquiring an additional 50,800 shares during the period. Institutional investors own 27.94% of the company’s stock.
Teekay Corporation (TK) traded down $0.01 during trading hours on Monday, reaching $8.32. The company’s stock had a trading volume of 520,100 shares, compared to its average volume of 1,419,180. Teekay Corporation has a 1 year low of $5.14 and a 1 year high of $11.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.28.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.64%. The ex-dividend date was Thursday, November 2nd. Teekay’s payout ratio is -13.33%.
TK has been the topic of several research reports. Zacks Investment Research raised Teekay from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, October 4th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 price target on shares of Teekay in a research note on Thursday, October 12th. Finally, ValuEngine lowered Teekay from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.00.
TRADEMARK VIOLATION WARNING: This report was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/12/04/teekay-corporation-tk-shares-sold-by-california-state-teachers-retirement-system.html.
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
Receive News & Stock Ratings for Teekay Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Corporation and related stocks with our FREE daily email newsletter.