Wells Fargo & Company Boosts Mosaic (NYSE:MOS) Price Target to $28.00

Mosaic (NYSE:MOS - Free Report) had its price objective lifted by Wells Fargo & Company from $26.00 to $28.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company's stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised Mosaic from a "neutral" rating to an "overweight" rating and increased their target price for the company from $26.00 to $29.00 in a research report on Monday, March 3rd. Morgan Stanley dropped their target price on Mosaic from $40.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Piper Sandler increased their price objective on Mosaic from $30.00 to $33.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Scotiabank increased their price objective on Mosaic from $31.00 to $34.00 and gave the company a "sector outperform" rating in a report on Wednesday. Finally, Royal Bank of Canada increased their price objective on Mosaic from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.67.

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Mosaic Stock Down 1.9 %

NYSE MOS traded down $0.55 during midday trading on Wednesday, hitting $27.83. 7,382,409 shares of the company traded hands, compared to its average volume of 4,291,115. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.49. The company has a market cap of $8.82 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34. The company's 50-day simple moving average is $26.54 and its 200-day simple moving average is $26.15. Mosaic has a 52 week low of $22.48 and a 52 week high of $33.44.

Mosaic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 dividend on an annualized basis and a yield of 3.16%. Mosaic's dividend payout ratio (DPR) is 160.00%.

Hedge Funds Weigh In On Mosaic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intellectus Partners LLC raised its stake in Mosaic by 3.3% in the 4th quarter. Intellectus Partners LLC now owns 12,350 shares of the basic materials company's stock worth $304,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System grew its position in Mosaic by 0.5% during the 4th quarter. Arizona State Retirement System now owns 92,550 shares of the basic materials company's stock worth $2,275,000 after purchasing an additional 471 shares during the period. Probity Advisors Inc. grew its position in Mosaic by 6.2% during the 4th quarter. Probity Advisors Inc. now owns 8,701 shares of the basic materials company's stock worth $214,000 after purchasing an additional 508 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Mosaic by 1.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,516 shares of the basic materials company's stock worth $799,000 after purchasing an additional 570 shares during the period. Finally, Brooklyn Investment Group grew its position in Mosaic by 110.8% during the 4th quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company's stock worth $27,000 after purchasing an additional 587 shares during the period. Hedge funds and other institutional investors own 77.54% of the company's stock.

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 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.