Korea Investment CORP Sells 40,214 Shares of Nutrien Ltd. (NYSE:NTR)

Korea Investment CORP reduced its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 373,506 shares of the company's stock after selling 40,214 shares during the period. Korea Investment CORP owned 0.08% of Nutrien worth $16,704,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NTR. Uncommon Cents Investing LLC increased its stake in shares of Nutrien by 2.1% in the fourth quarter. Uncommon Cents Investing LLC now owns 11,550 shares of the company's stock worth $517,000 after purchasing an additional 235 shares during the period. Rhumbline Advisers grew its holdings in shares of Nutrien by 3.5% in the 4th quarter. Rhumbline Advisers now owns 7,398 shares of the company's stock worth $331,000 after purchasing an additional 247 shares during the last quarter. FFT Wealth Management LLC increased its position in shares of Nutrien by 0.9% during the 4th quarter. FFT Wealth Management LLC now owns 29,732 shares of the company's stock worth $1,330,000 after purchasing an additional 277 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Nutrien by 23.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,804 shares of the company's stock valued at $81,000 after purchasing an additional 348 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Nutrien by 20.8% during the third quarter. Daiwa Securities Group Inc. now owns 2,213 shares of the company's stock worth $106,000 after buying an additional 381 shares in the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

NTR has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on Nutrien in a report on Thursday, December 12th. They set an "outperform" rating and a $60.00 price target for the company. Piper Sandler boosted their price objective on Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $60.00 price target on shares of Nutrien in a research note on Monday, February 24th. The Goldman Sachs Group began coverage on Nutrien in a research note on Thursday, March 13th. They issued a "sell" rating and a $53.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded Nutrien from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $40.00 to $50.00 in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Nutrien has a consensus rating of "Hold" and a consensus price target of $60.00.

Nutrien Stock Up 0.8 %

NYSE NTR traded up $0.40 during trading hours on Thursday, hitting $50.35. 1,260,672 shares of the company traded hands, compared to its average volume of 2,310,469. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $60.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The business's 50-day moving average is $51.47 and its 200-day moving average is $49.07. The stock has a market capitalization of $24.61 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. Sell-side analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.33%. Nutrien's dividend payout ratio is currently 159.12%.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.