Corebridge Financial Inc. Lowers Stock Holdings in The Mosaic Company (NYSE:MOS)

Corebridge Financial Inc. lowered its stake in The Mosaic Company (NYSE:MOS) by 4.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,229 shares of the basic materials company’s stock after selling 3,894 shares during the period. Corebridge Financial Inc.’s holdings in Mosaic were worth $1,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in shares of Mosaic by 110.8% in the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 587 shares during the last quarter. R Squared Ltd bought a new position in Mosaic in the 4th quarter worth about $33,000. Tobam purchased a new stake in Mosaic during the 4th quarter valued at about $38,000. Heck Capital Advisors LLC bought a new stake in Mosaic during the 4th quarter valued at about $41,000. Finally, Ethos Financial Group LLC purchased a new position in Mosaic in the fourth quarter worth about $55,000. Institutional investors own 77.54% of the company’s stock.

Mosaic Price Performance

Shares of NYSE:MOS opened at $26.52 on Thursday. The firm’s 50 day moving average price is $26.55 and its 200-day moving average price is $26.24. The stock has a market capitalization of $8.41 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34. The Mosaic Company has a twelve month low of $22.48 and a twelve month high of $33.44. The company has a quick ratio of 0.49, a current ratio of 1.19 and a debt-to-equity ratio of 0.27.

Mosaic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 annualized dividend and a yield of 3.32%. Mosaic’s dividend payout ratio (DPR) is presently 160.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Mosaic from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Royal Bank of Canada increased their target price on Mosaic from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upgraded Mosaic from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $29.00 in a research note on Monday, March 3rd. The Goldman Sachs Group initiated coverage on Mosaic in a research report on Thursday, March 13th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Barclays raised Mosaic from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $33.00 in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.67.

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.