Cibc World Markets Corp Purchases 1,640 Shares of Lineage, Inc. (NASDAQ:LINE)

Cibc World Markets Corp lifted its holdings in Lineage, Inc. (NASDAQ:LINE) by 10.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,335 shares of the company’s stock after buying an additional 1,640 shares during the period. Cibc World Markets Corp’s holdings in Lineage were worth $1,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in Lineage during the third quarter valued at approximately $265,895,000. Baillie Gifford & Co. grew its stake in shares of Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after acquiring an additional 1,384,481 shares during the period. Victory Capital Management Inc. raised its stake in Lineage by 36.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock worth $180,811,000 after acquiring an additional 831,533 shares during the period. Principal Financial Group Inc. bought a new stake in Lineage during the 3rd quarter worth approximately $173,115,000. Finally, Janus Henderson Group PLC purchased a new position in Lineage during the third quarter valued at approximately $131,875,000.

Lineage Trading Down 3.2 %

LINE stock opened at $58.40 on Friday. Lineage, Inc. has a twelve month low of $52.75 and a twelve month high of $89.85. The business’s fifty day simple moving average is $58.23 and its two-hundred day simple moving average is $65.77. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.61%.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on LINE. Robert W. Baird dropped their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Scotiabank increased their price target on Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, March 10th. Piper Sandler cut their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, BNP Paribas assumed coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.06.

Lineage Company Profile

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.