Mackenzie Financial Corp Raises Position in The Mosaic Company (NYSE:MOS)

Mackenzie Financial Corp grew its position in The Mosaic Company (NYSE:MOS) by 4.6% during the 4th quarter, Holdings Channel reports. The fund owned 1,787,916 shares of the basic materials company’s stock after buying an additional 77,938 shares during the quarter. Mackenzie Financial Corp’s holdings in Mosaic were worth $63,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Denali Advisors LLC lifted its stake in shares of Mosaic by 100.5% in the fourth quarter. Denali Advisors LLC now owns 826 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 414 shares during the period. Clear Street Markets LLC lifted its stake in shares of Mosaic by 93.9% in the first quarter. Clear Street Markets LLC now owns 669 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 324 shares during the period. High Net Worth Advisory Group LLC acquired a new stake in shares of Mosaic in the first quarter valued at about $33,000. First Command Bank raised its position in Mosaic by 60.1% during the second quarter. First Command Bank now owns 866 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 325 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Mosaic during the first quarter worth about $44,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.

Mosaic Price Performance

Mosaic stock opened at $30.41 on Wednesday. The Mosaic Company has a 1 year low of $29.25 and a 1 year high of $47.58. The firm has a 50 day moving average price of $31.46 and a 200 day moving average price of $33.54. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 1.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.57 and a current ratio of 1.22.

Mosaic (NYSE:MOS) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.11). Mosaic had a return on equity of 9.69% and a net margin of 8.51%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. Mosaic’s quarterly revenue was down 29.7% compared to the same quarter last year. Sell-side analysts predict that The Mosaic Company will post 2.81 earnings per share for the current year.

Mosaic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.84 annualized dividend and a yield of 2.76%. Mosaic’s dividend payout ratio is currently 24.07%.

Analysts Set New Price Targets

MOS has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of Mosaic from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Mizuho cut shares of Mosaic from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $34.00 in a research report on Wednesday, January 24th. Piper Sandler cut shares of Mosaic from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $42.00 to $32.00 in a research report on Thursday, February 29th. TheStreet cut shares of Mosaic from a “b-” rating to a “c+” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group lowered their price target on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mosaic currently has a consensus rating of “Hold” and an average target price of $40.27.

About Mosaic

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.