Cibc World Markets Corp Raises Position in Lineage, Inc. (NASDAQ:LINE)

Cibc World Markets Corp boosted its holdings in Lineage, Inc. (NASDAQ:LINE) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,335 shares of the company’s stock after purchasing an additional 1,640 shares during the period. Cibc World Markets Corp’s holdings in Lineage were worth $1,015,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Lineage in the 3rd quarter valued at about $265,895,000. Baillie Gifford & Co. lifted its position in Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after purchasing an additional 1,384,481 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lineage by 36.9% during the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock valued at $180,811,000 after purchasing an additional 831,533 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Lineage during the third quarter valued at approximately $173,115,000. Finally, Janus Henderson Group PLC bought a new position in shares of Lineage in the third quarter worth approximately $131,875,000.

Wall Street Analyst Weigh In

LINE has been the subject of several analyst reports. Mizuho dropped their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Piper Sandler reduced their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. BNP Paribas assumed coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective for the company. Finally, Scotiabank lifted their price objective on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Insiders Place Their Bets

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Lineage Stock Down 3.2 %

LINE stock opened at $58.40 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average price of $58.23 and a 200-day moving average price of $65.77. Lineage, Inc. has a 52-week low of $52.75 and a 52-week high of $89.85.

Lineage Dividend Announcement

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

About Lineage

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.