Geode Capital Management LLC increased its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,242,029 shares of the company's stock after purchasing an additional 79,219 shares during the period. Geode Capital Management LLC owned 0.54% of Lineage worth $72,765,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 448 shares during the period. Franklin Resources Inc. bought a new position in shares of Lineage in the 4th quarter valued at about $208,000. Stifel Financial Corp acquired a new stake in shares of Lineage during the 3rd quarter worth approximately $211,000. EntryPoint Capital LLC acquired a new stake in shares of Lineage during the 4th quarter worth approximately $289,000. Finally, M&T Bank Corp raised its stake in shares of Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company's stock worth $292,000 after buying an additional 439 shares during the last quarter.
Analysts Set New Price Targets
Several analysts have commented on LINE shares. Barclays assumed coverage on shares of Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 target price for the company. Piper Sandler lowered their price target on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut shares of Lineage from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $78.00 to $75.00 in a report on Friday, December 20th. Robert W. Baird cut their target price on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup began coverage on shares of Lineage in a research report on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lineage currently has an average rating of "Moderate Buy" and an average target price of $77.63.
Check Out Our Latest Stock Analysis on LINE
Lineage Stock Performance
Shares of LINE traded down $0.32 during mid-day trading on Tuesday, hitting $54.00. 341,602 shares of the company's stock were exchanged, compared to its average volume of 1,276,507. The company has a 50-day simple moving average of $57.18 and a 200 day simple moving average of $62.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 52 week low of $46.63 and a 52 week high of $89.85.
Lineage Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.5275 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.91%.
Insider Transactions at Lineage
In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company's stock.
About Lineage
(
Free Report)
Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.
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