Royal Bank of Canada Trims Mosaic (NYSE:MOS) Target Price to $35.00

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Mosaic (NYSE:MOS) had its price target decreased by Royal Bank of Canada from $38.00 to $35.00 in a research report report published on Friday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

Several other brokerages also recently weighed in on MOS. Scotiabank downgraded WEC Energy Group from an outperform rating to a sector perform rating and increased their price target for the stock from $76.00 to $78.00 in a research report on Wednesday, May 8th. Zacks Investment Research cut GreenTree Hospitality Group from a buy rating to a hold rating in a research report on Monday, May 20th. TheStreet cut Trade Desk from a b- rating to a c- rating in a research report on Thursday, May 9th. Citigroup raised their target price on PVH from $120.00 to $128.00 and gave the company a neutral rating in a research report on Friday, March 29th. Finally, Standpoint Research upgraded CVS Health from a hold rating to a buy rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $32.57.

Shares of MOS stock opened at $23.37 on Friday. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.73 and a quick ratio of 0.66. The stock has a fifty day moving average price of $23.15. Mosaic has a 1 year low of $20.81 and a 1 year high of $37.37.

Mosaic (NYSE:MOS) last issued its earnings results on Monday, May 6th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.86 billion. Mosaic had a return on equity of 7.88% and a net margin of 5.85%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. Equities analysts predict that Mosaic will post 1.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This is a positive change from Mosaic’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. Mosaic’s dividend payout ratio (DPR) is currently 9.43%.

In related news, Director Emery N. Koenig purchased 2,089 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $23.95 per share, with a total value of $50,031.55. Following the purchase, the director now owns 25,244 shares of the company’s stock, valued at approximately $604,593.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Calvin O’rourke bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $24.03 per share, for a total transaction of $240,300.00. Following the completion of the purchase, the chief executive officer now directly owns 168,345 shares in the company, valued at $4,045,330.35. The disclosure for this purchase can be found here. Insiders purchased a total of 17,339 shares of company stock worth $414,182 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOS. Norges Bank purchased a new position in Mosaic in the 4th quarter worth approximately $143,363,000. FMR LLC lifted its stake in Mosaic by 23.0% in the 4th quarter. FMR LLC now owns 17,982,539 shares of the basic materials company’s stock worth $525,270,000 after purchasing an additional 3,363,282 shares in the last quarter. Millennium Management LLC lifted its stake in Mosaic by 439.3% in the 4th quarter. Millennium Management LLC now owns 3,744,249 shares of the basic materials company’s stock worth $109,370,000 after purchasing an additional 3,049,952 shares in the last quarter. Boston Partners lifted its stake in Mosaic by 21.1% in the 1st quarter. Boston Partners now owns 17,250,762 shares of the basic materials company’s stock worth $471,118,000 after purchasing an additional 3,007,121 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in Mosaic in the 4th quarter worth approximately $86,945,000. 74.79% of the stock is currently owned by institutional investors and hedge funds.

Mosaic Company 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 International Distribution. 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.

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