Mackenzie Financial Corp Has $87.79 Million Stock Holdings in AGCO Co. (NYSE:AGCO)

Mackenzie Financial Corp raised its stake in AGCO Co. (NYSE:AGCO) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 723,119 shares of the industrial products company’s stock after acquiring an additional 22,687 shares during the period. Mackenzie Financial Corp owned about 0.97% of AGCO worth $87,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of AGCO by 7,297.1% during the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after purchasing an additional 713,142 shares during the last quarter. Millennium Management LLC raised its position in shares of AGCO by 2,102.6% during the 4th quarter. Millennium Management LLC now owns 725,961 shares of the industrial products company’s stock valued at $100,684,000 after acquiring an additional 693,002 shares during the last quarter. Norges Bank acquired a new position in shares of AGCO in the 4th quarter valued at $95,107,000. Victory Capital Management Inc. boosted its position in shares of AGCO by 24.7% in the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after purchasing an additional 601,877 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of AGCO by 108.4% during the first quarter. AQR Capital Management LLC now owns 770,571 shares of the industrial products company’s stock worth $104,181,000 after purchasing an additional 400,769 shares during the period. 78.80% of the stock is owned by institutional investors.

AGCO Price Performance

Shares of NYSE AGCO opened at $118.04 on Tuesday. The stock has a market capitalization of $8.81 billion, a PE ratio of 7.55, a P/E/G ratio of 0.69 and a beta of 1.31. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67. The business has a fifty day moving average price of $115.57 and a two-hundred day moving average price of $117.13.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing the consensus estimate of $4.03 by ($0.25). The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. AGCO’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.47 earnings per share. As a group, equities analysts predict that AGCO Co. will post 13.03 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 0.98%. AGCO’s payout ratio is 7.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, December 19th. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial began coverage on shares of AGCO in a report on Thursday, March 14th. They set a “buy” rating and a $142.00 price objective on the stock. Finally, Oppenheimer increased their target price on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.50.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.