Zeke Capital Advisors LLC reduced its position in Nutrien Ltd (NYSE:NTR) by 49.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,222 shares of the company’s stock after selling 7,030 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Nutrien were worth $386,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Icon Wealth Partners LLC bought a new position in Nutrien in the first quarter worth $35,000. Bessemer Group Inc. lifted its holdings in shares of Nutrien by 354.4% during the second quarter. Bessemer Group Inc. now owns 727 shares of the company’s stock valued at $39,000 after acquiring an additional 567 shares during the period. FTB Advisors Inc. lifted its holdings in shares of Nutrien by 29.9% during the first quarter. FTB Advisors Inc. now owns 882 shares of the company’s stock valued at $46,000 after acquiring an additional 203 shares during the period. Asset Dedication LLC lifted its holdings in shares of Nutrien by 90.8% during the second quarter. Asset Dedication LLC now owns 1,034 shares of the company’s stock valued at $55,000 after acquiring an additional 492 shares during the period. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Nutrien by 39.6% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the company’s stock valued at $58,000 after acquiring an additional 308 shares during the period. 67.83% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on NTR shares. Raymond James reissued a “strong-buy” rating and set a $70.00 price objective on shares of Nutrien in a report on Tuesday, July 30th. Citigroup set a $61.00 price target on Nutrien and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Securities lifted their price target on Nutrien from $68.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research raised Nutrien from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Cowen reaffirmed an “outperform” rating and issued a $63.00 price target (down from $66.00) on shares of Nutrien in a report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Nutrien currently has a consensus rating of “Buy” and an average target price of $62.00.
Nutrien (NYSE:NTR) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.01). The company had revenue of $8.66 billion during the quarter, compared to analysts’ expectations of $8.17 billion. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS. Sell-side analysts expect that Nutrien Ltd will post 2.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.52%. This is a positive change from Nutrien’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, September 27th. Nutrien’s dividend payout ratio (DPR) is presently 63.94%.
Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.
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